The U.S. Small Business Administration (SBA) is offering disaster assistance loans to certain private nonprofits in South Carolina. Those that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans.
SBA spokesman Jay MacKenna told South Carolina Radio Network the low interest loans can have a very long payback period. “We can extend the term of the loan out to thirty years,” MacKenna said. “As well as a low interest rate, as low as 2.625 percent.”
Qualifying nonprofits in the disaster declared counties are eligible to apply: Allendale, Bamberg, Barnwell, Beaufort, Berkeley, Colleton, Dillon, Dorchester, Florence, Georgetown, Hampton, Horry, Jasper, Lee, Marion, Orangeburg, Sumter and Williamsburg.
Examples of eligible non-critical nonprofits organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges. “They are important to the community, but do not provide a service that is government in nature,” said MacKenna.
Applicants may apply online using the Electronic Loan Application via SBA’s secure website at disasterloan.sba.gov/ela.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or sending an email to firstname.lastname@example.org.
Loan applications can also be downloaded from www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.