NC Treasurer Opens 2026 Round of the Hurricane Helene Cash Flow Loan Program – Applications Due 8/31/2026
The Hurricane Helene Cash Flow Loan Program was created by the General Assembly in the Disaster Recovery Act of 2024 to provide interest-free loans to local governments experiencing cash flow challenges while awaiting FEMA reimbursement and other disaster assistance after Hurricane Helene. The Department of State Treasurer implemented the program in early 2025 and has distributed approximately $150 million in cashflow loans to Helene-impacted communities through three separate funding rounds.
In the State’s latest budget bill, the General Assembly appropriated an additional $20 million to the Hurricane Helene Cash Flow Loan Program. This additional funding round (the “2026 Round”) builds on those earlier recovery efforts while introducing several important changes to the loan program. (The 2026 Round does not change the terms of cash flow loans already issued under previous rounds).
Importantly, one of the key changes is the requirement for eligible local governments to apply to the 2026 Round to be eligible for the program. The brief application form is available here: 2026 Round Application. The deadline to apply is August 31, 2026.
2026 Round – Selection Process and Funding Priorities: The 2026 Round will be distributed based on a local government’s demonstrated need, as determined by the Department of State Treasurer. Because available funding is limited, the Department will prioritize projects in the following order:
- Projects addressing public health and public safety needs;
- Projects for which the local government has already requested reimbursement from FEMA or another funding source — demonstrating that the need has already been documented; and
- Regionalization projects.
Although projects expected to receive FEMA or other reimbursement receive second priority, the Department of State Treasurer may also consider other disaster recovery projects that meet the program’s eligibility requirements. Local governments will want to select projects that fit within the stated priorities and be able to articulate how each project addresses an important disaster recovery need and why cash flow loan assistance is warranted.
Loan Repayment Deadline: For the 2026 Round, repayment is due on the earlier of:
- the local government’s receipt of FEMA or other reimbursement for the funded project, or
- June 30, 2030.
Because the 2026 Round allows loans for certain projects that may not ultimately receive FEMA or other reimbursement, June 30, 2030, will effectively serve as the repayment deadline for those projects.
Submitting a Project List: Applicants may indicate in the application their intent to submit a separate spreadsheet listing each project for which cash flow loan assistance is requested. For each project, the spreadsheet should include:
- Cost estimate
- Project summary
- Funding agency from which assistance was sought
- Priority category selected (one of the three categories described above)
Important: The spreadsheet and any additional attachments should be sent to jeff.poley@nctreasurer.gov and copy helenecashflowloans@nctreasurer.gov.
Applying Subject to Board Approval: Given the compressed timeline for this round, the Department of State Treasurer is allowing local governments to submit their application with a “SUBJECT TO BOARD APPROVAL” disclaimer. Therefore, a local government does not need to have already secured formal board approval before submitting its application. Board approval will still need to follow through normal channels after submission.
As with previous funding rounds, the Department will prepare the loan agreement, promissory note, and draft authorizing resolution for each approved applicant.