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Columbia Business Monthly

SBA Approves Gov. McMaster’s Request for Disaster Assistance

Mar 20, 2020 09:47AM ● By David Dykes

The U.S. Small Business Administration has approved Gov. Henry McMaster’s request for the agency to offer South Carolina’s small businesses with disaster assistance, the governor's office said.

McMaster requested the disaster declaration in a March 17 letter to SBA Administrator Jovita Carranza.

The disaster declaration means that South Carolina’s small businesses that have suffered substantial economic injury as a result of the COVID-19 virus may qualify for low-interest federal disaster loans. All 46 South Carolina counties are included in the disaster declaration.

“These low-interest loans are of monumental importance to our business community," McMaster said. "There's no doubt that our state's small businesses have suffered losses throughout this incredibly difficult time, but help is on the way. To have Administrator Carranza approve our request so quickly shows that President Trump’s administration is fully committed to helping our businesses recover from the impact of this virus.”

South Carolina’s businesses can apply online at: https://disasterloan.sba.gov/ela.

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