Following Gov. Henry McMaster's Jan. 17 request, the U.S. Small Business Administration (SBA) announced Jan. 24, 2025, that South Carolina's businesses and residents affected by Nov. 6-14, 2024, severe storms and flooding are eligible to apply for low-interest disaster loans.

The declaration covers Orangeburg County and the adjacent counties of Aiken, Bamberg, Barnwell, Berkeley, Calhoun, Clarendon, Colleton, Dorchester, and Lexington. 

To assist businesses and residents affected by the disaster, the SBA will open a Disaster Loan Outreach Center (DLOC) in Orangeburg County on Monday, Feb. 3, 2025, as noted below:  

Disaster Loan Outreach Center (DLOC) Orangeburg County Cordova Senior Citizens Center 160 Mixon Mill Road Cordova, SC 29039 Opening: Monday, February 3, 11 a.m. to 6 p.m. Hours: Monday – Friday, 9 a.m. to 6 p.m.              Saturdays, 10 a.m. to 2 p.m. Closed: Sundays Permanently Closes: Saturday, February 15 at 2 p.m.

Customer Service Representatives will be available at the center to answer questions about the disaster loan program and help individuals complete their applications.

The filing deadline to submit applications for physical property damage is March 24, 2025. The deadline to submit economic injury applications is Oct. 22, 2025.

Applicants can apply online and receive additional disaster assistance information at sba.gov/disaster.

Applicants can also call SBA's Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance.

People who are deaf, hard of hearing, or have a speech disability, should dial 7-1-1 to access telecommunications relay services.

Loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $100,000 to repair or replace damaged or destroyed personal property.  

Applicants may be eligible for a loan amount increase of up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes.

Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future damage.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.

EIDL assistance is available regardless of whether the business suffered any physical property damage.

Interest rates are as low as 4 percent for businesses, 3.625 percent for nonprofit organizations, and 2.563 percent for homeowners and renters, with terms of up to 30 years.

Interest doesn’t begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement.

Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.