Palmetto State News

The U.S. Small Business Administration (SBA) has approved Governor Henry McMaster's request for disaster assistance following the January 9 tornadoes that affected several counties in South Carolina. The declaration covers Bamberg County and the adjacent counties of Allendale, Barnwell, Colleton, Hampton, and Orangeburg.

According to SBA’s South Carolina District Director Richard White, "Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets."

For individuals impacted by the disaster, loans are available for homeowners and renters. Homeowners can access loans up to $500,000 to repair or replace damaged real estate, while loans up to $100,000 are available for personal property damages.

To provide further assistance, the SBA will open a Disaster Loan Outreach Center in Bamberg County. The Center will be operational from March 27 to April 10, offering support to individuals completing their applications and answering questions about the disaster loan program.

Applicants are encouraged to apply for assistance online at sba.gov/disaster or contact the SBA’s Customer Service Center at (800) 659-2955 for more information. The filing deadline for physical property damage applications is May 21, 2024, while the deadline for economic injury applications is December 23, 2024.