Small business loans of up to $2 million available in wake of Hurricane Florence

The U.S. Small Business Administration announced on Oct. 18 that Economic Injury Disaster Loans are available for eligible farm-related and nonfarm-related businesses and organizations that suffered financial losses from Hurricane Florence.

The program is offered to small businesses engaged in aquaculture, small agricultural cooperatives and small business as weel as private, nonprofit organizations in the following counties: Berkeley, Charleston, Chesterfield, Clarendon, Darlington, Dillon, Florence, Georgetown, Horry, Kershaw, Lancaster, Lee, Marion, Marlboro, Sumter and Williamsburg.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities affected by the same disaster,” Kem Fleming, director of the SBA’s Field Operations Center East, said.

The loan amount can be up to $2 million, but the amount and terms are set by the U.S. Small Business Administration and will be based on each applicant’s financial condition

Application forms can be downloaded from Submission of completed loan applications should be no later than June 4, 2019.

Contact SBA’s Customer Service Center at 800-659-2955 or email for more information.

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