The U.S. Small Business Administration has received more than 1,600 disaster loan applications from South Carolina business owners, homeowners, renters and others since the historic rains early this month, the agency said Wednesday.
More than $2.5 million has been dispensed in disaster assistance loans on 110 applications approved so far in the 40-county flood-affected area from Columbia to the coast, SBA Administrator Maria Contreras-Sweet said during a visit and tour of Columbia.
Standing in the water-ripped backyard of a destroyed TitleMax title loan store on Garners Ferry Road at the Rosewood Crossing Shopping Center – one of the hardest hit areas of the city – Contreras-Sweet said more assistance will come.
“We know that there are a whole lot more folks out there, and sometimes our pride holds us up,” she said. “Sometimes we don’t think to go to the federal government. I want people to know that the SBA is here for them at this time.”
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The SBA offers low-interest disaster loans of up to $200,000 to homeowners to repair or replace their primary residence, and offers both homeowners and renters loans of up to $40,000 to replace damaged or destroyed personal property such as furniture, appliances, clothing or vehicles. Businesses can borrow up to $2 million to repair or replace real estate, machinery, equipment or inventory, the agency said.
Dec. 4 is the deadline to apply for physical damage loans through the SBA. That can be done at 23 disaster recovery centers across the state. For more information, call (800) 659-2955 or email firstname.lastname@example.org.