The Charleston Local Development Corp. (LDC) reminds greater Charleston area businesses that it offers a Small Business Disaster Relief Loan Program.
The program offers temporary financial relief after natural disasters. The stop-gap loan is available for businesses that have experienced losses as the result of natural disasters.
The LDC is aware that businesses are often not able to resume normal operations after natural disasters due to low cash reserves or waiting periods for insurance payouts. The LDC program offers streamlined applications and expedited processes to ensure rapid financial assistance to eligible small businesses.
Businesses in Berkeley, Charleston, Colleton and Dorchester counties are eligible for LDC assistance. The program can provide up to $10,000 in funding for securing damages to a place of business, purchasing generators, replacing perishable inventory, paying salaries or other operational needs.
The loans are short-term and carry lenient terms. Repayment is due when funds come in from insurance proceeds, SBA funding or traditional financing.
The LDC is located at 2 George Street and can be contacted at 843-973-7298, through its website at www.charlestonldc.org or via email at info@charlestonldc.