Twenty-four counties in South Carolina affected by frost and freeze March 4-17, 2017, are eligible for working capital loans from the U.S. Small Business Adminstration. The deadline to apply is June 13.
Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by frost and freeze in the following counties can apply: Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Cherokee, Chester, Colleton, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Laurens, Lexington, McCormick, Newberry, Orangeburg, Pickens, Saluda, Spartanburg, Union and York.
“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the June 13 deadline,” said Richard Morgan, acting director of SBA Field Operations Center East, in a news release.
Working capital disaster loans up to $2 million are available at 3.15% for small businesses, and 2.5% for private nonprofit organizations with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable and other expenses that could have been paid had the disaster not occurred, according to the release.
Applications are available online.