SBA Offers Disaster Assistance to South Carolina Small Businesses Economically Impacted by the Coronavirus

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ATLANTA – The U.S. Small Business Administration is offering low-interest federal disaster loans for
working capital to South Carolina small businesses suffering substantial economic injury as a result
of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under
its own authority, as provided by the Coronavirus Preparedness and Response Supplemental
Appropriations Act that was recently signed by the President, to declare a disaster following a request
received from Gov. Henry McMaster on March 17, 2020.

The disaster declaration makes SBA assistance available in the entire state of South Carolina; and the
contiguous counties of Burke, Chatham, Columbia, Effingham, Elbert, Franklin, Habersham, Hart,
Lincoln, Rabun, Richmond, Screven and Stephens in Georgia; and Anson, Brunswick, Cleveland,
Columbus, Gaston, Henderson, Jackson, Macon, Mecklenburg, Polk, Richmond, Robeson, Rutherford,
Scotland, Transylvania and Union in North Carolina.

“SBA is strongly committed to providing the most effective and customer-focused response possible
to assist South Carolina small businesses with federal disaster loans. We will be swift in our efforts to
help these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said
Administrator Carranza.

SBA Customer Service Representatives will be available to answer questions about SBA’s Economic
Injury Disaster Loan program and explain the application process.

“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and
small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus
(COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to
help meet financial obligations and operating expenses which could have been met had the disaster
not occurred,” said Carranza.

“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be
paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small
businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus
(COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private nonprofit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial
ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download
applications at Applicants may also call SBA’s Customer
Service Center at (800) 659-2955 or email for more
information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call
(800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration,

Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 21, 2020.

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