CHARLESTON, S.C. (WCSC) – Applications are open for South Carolinians looking to receive federal relief for business asset damages from summer storms.
The U.S. Small Business Administration is asking businesses, nonprofits, homeowners and renters to apply for physical damage disaster loans before Aug. 23.
These loans are used for losses not covered by insurance or funding from the Federal Emergency Management Agency or business operation expenses that could have been met if the disaster had not occurred.
Businesses and nonprofits could borrow up to $2 million to repair or replace damaged real estate, machinery and equipment, inventory and other assets. This would cover the companies affected by a June 10 storm which brought winds, hail and heavy rain to the state.
Disaster loans of up to $500,000 are available to homeowners for real estate and up to $100,000 covering personal property, including vehicles, for renters.
Small businesses, agricultural cooperatives, aquaculture and nonprofits are also eligible for Economic Disaster Loans to meet capital needs caused by the disaster.
The declaration applies to Berkeley, Charleston, Clarendon, Dorchester, Georgetown, Orangeburg and Williamsburg Counties.
“A lot of times people that are going through things like this don’t even know where to start. A lot of people going through certain things that we don’t even understand, and we want to make sure they know we’re here to help them through the process,” Public Affairs Specialist Taheeda Mateen says.
The deadline for property damage is Aug. 23. The deadline for economic injury is March 24, 2025.
To access more information and the application process, click here or call the customer service line at 800-659-2955.
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