SBA Working Capital Loan deadline is Jan. 19

South Carolina businesses have until Jan. 19 to apply for working capital loans says the U.S. Small Business Administration (SBA).

COLUMBIA, S.C. (WOLO)— South Carolina businesses have until Jan. 19 to apply for working capital loans says the U.S. Small Business Administration (SBA).

The Economic Injury Disaster Loan program is available to small businesses, small agricultural cooperatives, small business engaged in aquaculture, and private nonprofit organizations impacted by severe storms and tornadoes that occurred April 5-6, 2022.

The loans are available even if the business did not suffer any physical damage. The counties of Allendale, Bamberg, Barnwell, Colleton, Hampton and Orangeburg are included in this declaration.

Small businesses can secure up to $2 million in loans with 2.94% interest rate, with terms of up to 30 years. Nonprofit organization loans have a 1.875% interest rate.

Applicants can apply online using the Electronic Loan Application (ELA) at Disaster Loan Assistance  and should apply under SBA declaration # 17403.

If you have questions, please contact the FOCE Communications Department at (404) 331-0333.