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SC 14921 - SBA Opens Another Hurricane Matthew Business Recovery Center in South Carolina
ATLANTA – The U.S. Small Business Administration (SBA) announced today the opening of a Business Recovery Center (BRC) in Orangeburg County on Oct. 25, to help businesses impacted by Hurricane Matthew that began on Oct. 4, 2016.
SBA representatives at the Business Recovery Centers (BRC) in Beaufort and Orangeburg counties can provide information about disaster loans, answer questions and help businesses in completing the SBA application. The Centers are located as indicated below and will operate until further notice:
Small Business Development Center
South Carolina State University Belcher Hall Suite 353
Orangeburg, SC 29117
Opening: Tuesday, Oct. 25 at 11 a.m.
Days: Monday through Friday, 8:30 a.m. – 5 p.m.
Closed: Saturdays and Sundays
Hilton Head-Bluffton Chamber of Commerce
Hilton Head, SC 29928
Opened: Friday, Oct. 21 at 11 a.m.
Days: Monday through Friday, 8.30 a.m. – 5 p.m.; Saturdays 9 a.m. – 1 p.m.
The disaster declaration now covers the counties of Allendale, Bamberg, Barnwell, Beaufort, Calhoun, Clarendon, Colleton, Darlington, Dillon, Dorchester, Florence, Georgetown, Hampton, Horry, Jasper, Lee, Marion, Marlboro, Orangeburg, Sumter, and Williamsburg in South Carolina, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.
Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Aiken, Berkeley, Charleston, Chesterfield, Kershaw, Lexington and Richland in South Carolina; Burke, Chatham, Effingham and Screven in Georgia; and Anson, Brunswick, Columbus, Richmond, Robeson and Scotland in North Carolina.
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.
Interest rates are as low as 4 percent for businesses and 2.625 percent for nonprofit organizations, and 1.563 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.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloan.sba.gov/ela.
To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or by mobile device at m.fema.gov. 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.
Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to firstname.lastname@example.org.
The filing deadline to return applications for physical property damage is Dec. 13, 2016. The deadline to return economic injury applications is July 12, 2017.
Friday, October 21, 2016 - 12:00am
Field Operations Center: