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More than $50M approved in SBA disaster loans

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Staff Report
Published Nov. 9, 2015

More than $50 million in low-interest disaster loans have been approved by the U.S. Small Business Administration for business and residents affected by last month’s flooding.

Approximately 1,707 businesses and residents have received financial assistance to date, the agency said. The loans carry rates as low as 4% for businesses, 2.625% for nonprofits and 1.875% for homeowners and renters.

“The SBA is committed to providing the financial support South Carolina businesses and individuals need as they rebuild in the aftermath of the devastating floods,” said SBA Administrator Maria Contreras-Sweet.

“The local SBA district office in Columbia, our resource partners at the Small Business Development Centers (SBDCs), Women’s Business Center and SCORE Chapter are fully engaged in working with affected businesses as they recover,” she said. “We have a lot of work ahead of us in the days, weeks and months to follow, but SBA will be here as long as it takes to help South Carolina recover and rebuild.”

The filing deadline for physical property damage is Dec. 4 and economic injury applications should be returned by July 5, 2016. Those interested can apply online here, call the customer service center at 800-659-2955 (or 800-877-8339 if hard of hearing) or email Recovery centers statewide can also assist in completing applications.

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