In a response to a request for disaster declaration from Gov. Henry McMaster, U.S. Small Business Administrator Linda McMahon has made low-interest disaster loans available to S.C. business owners and residents dealing with the aftermath of Hurricane Irma.
The declaration includes Beaufort, Jasper, Colleton and Hampton counties.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Frank Skaggs, director of the Small Business Administration’s Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20% of their physical damages. Interest rates are as low as 3.3% for businesses, 2.5% for nonprofit organizations and 1.75% for homeowners and renters, with terms up to 30 years.
Loan amount and terms are based on each applicant’s financial condition.
Applicants may apply using the Electronic Loan Application (ELA) at https://disasterloan.sba.gov/ela.
The filing deadline to return applications for physical property damage is Dec. 4. The deadline to return economic injury applications is July 5, 2018.
“I’m grateful that Administrator McMahon has decided to grant my request for a disaster declaration and give South Carolinians the resources they need to make themselves whole again after Hurricane Irma’s impact on the state,” McMaster said in a news release.
Customer service representatives will be available at Disaster Loan Outreach Centers to answer questions and help individuals complete their applications.
“The SBA is strongly committed to providing the people of South Carolina with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” McMahon said. “Getting businesses and communities up and running after a disaster is our highest priority.”
The center locations are:
Burton Wells Park
1 Middleton Recreation Dr.
Beaufort, S.C., 29906
Opening: Wed., Oct. 11, 11 a.m. to 6 p.m.
Hours: Thu.-Fri., Oct. 12-13, 9 a.m. to 6 p.m.
Sat., Oct. 14, 10 a.m. to 2 p.m.
Sun., Oct. 15, Closed
Closing: Mon., Oct. 16, 9 a.m. to 5 p.m.
Jasper County Government Building
Zenie Ingram Conference Room
358 Third Ave.
Ridgeland, S.C., 29936
Opening: Wed., Oct. 18, 11 a.m. to 5 p.m.
Hours: Thu.-Fri., Oct. 19-20, 9 a.m. to 5 p.m.
Sat., Oct. 21, 10 a.m. to 2 p.m.
Sun,, Oct. 22, Closed
Closing: Mon., Oct. 23, 9 a.m. to 3 p.m.