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Small Business Administration loan deadline approaching
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The deadline to apply for small businesses in South Carolina to apply for the U.S. Small Business Administration’s federal economic injury disaster loans is June 12. Loans are available to small business in all South Carolina counties — except Allendale, Beaufort, Charleston, Hampton and Jasper — that suffered due to drought and excessive heat that occurred after Jan. 1, 2007.
The program is open to farm related, non-farm related, and small agricultural cooperatives which saw financial losses directly caused by drought conditions. Small businesses that are eligible could qualify for loans of up to $1.5 million at a rate of 4 percent with terms up to 30 years.
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