COLUMBIA, S.C. — The US Small Business Administration (SBA) has approved South Carolina Governor Henry McMaster's request for disaster assistance for businesses and residents in those counties affected by the severe weather that occurred April 5-6, 2022. During those two days, severe storms produced high winds, hail, heavy rain, and tornadoes that caused destruction across a swath of the state.
Qualified homeowners, renters, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations in Allendale, Bamberg, Barnwell, Colleton, Hampton, and Orangeburg counties may be eligible for SBA Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster.
According to the SBA, EIDL Loan assistance is available regardless of whether the business suffered any physical property damage.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17402.
With interest rates ranging from 2.94% for businesses, 1.875% for nonprofits and 1.438% for homeowners and renters, eligible applicants may be secure a loan amount increase up to 20% of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include construction of a storm shelter or safe room, retaining wall, sump pump or French drain that would help protect property and individuals from future severe weather disasters.
Disaster Loan Outreach Centers (DLOC) will open in Allendale and Bamberg counties 11 a.m. Friday, April 22. Normal hours will be 9 a.m.-6 p.m. Monday through Friday and 10 a.m.-2 p.m. Saturdays. The DLOCs will close permanently at 4 p.m. May 5.
The Allendale office will be located at the Allendale Readiness Center, 911 Main St. North, Allendale.
The Bamberg office will be located at Colston Baptist Church, 655 Sunday School Rd., Bamberg.
Customer Service Representatives will be available at the DLOCs to answer questions about the disaster loan program and help individuals complete their applications.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster Completed applications should be returned to the centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.
The filing deadline to return applications for physical property damage is June 20, 2022. The deadline to return economic injury applications is Jan. 19, 2023.