ATLANTA – The U.S. Small Business Administration (SBA) announced today its closures for the upcoming holidays. The Business Recovery Center (BRC) in Pawleys Island will be closed in observance of the Christmas holiday from Saturday, Dec. 24, through Monday, Dec. 26, and for the New Year’s holiday from Saturday, Dec. 31, to Monday, Jan. 2. The SBA opened the Center to assist business owners with applying for SBA disaster loans for Hurricane Ian.
SBA staff at the BRC can provide program information, assist applicants with inputting their applications or applying for reconsideration, and check an application’s status. The BRC will operate as indicated below until further notice:
SBA Business Recovery Center
14361 Ocean Hwy
Pawleys Island, SC 29565
Hours: Monday - Friday, 9 a.m. – 6 p.m.
Saturday, 9 a.m. to noon
Saturday, Dec. 24 - Monday, Dec. 26
Saturday, Dec. 31 - Monday, Jan. 2
Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the BRC are encouraged to wear a face mask.
Interest rates are as low as 3.04 percent for businesses, 1.875 percent for nonprofit organizations, and 2.188 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Disaster loan borrowers will have up to one year from the date of their promissory note to begin making payments; interest on their loan will not begin to accrue until 12 months from the date of the initial loan disbursement.
“By offering affordable loans with no interest and no payments for the first year, and low fixed-interest rates for the remaining 30-year term, SBA is maximizing survivors’ likelihood of a successful recovery and helping to minimize further financial hardship,” said Guzman.
There is no pre-payment penalty and borrowers can begin making loan payments during the deferment period if they choose.
To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/, and should apply under SBA declaration # 17711.
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 by sending an email to DisasterCustomerService@sba.gov. Loan applications can be downloaded from the SBA’s website at sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The physical loan application deadline is Jan. 20, 2022. The deadline to return economic injury applications is Aug. 21, 2023.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov