Please ensure Javascript is enabled for purposes of website accessibility

Upstate counties eligible for disaster loans

Staff Report //July 13, 2018//

Upstate counties eligible for disaster loans

Staff Report //July 13, 2018//

Listen to this article

Working capital loans through the Small Business Administration are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations that were affected by tornadoes on Oct. 23, 2017 in Cherokee, Greenville, Laurens, Spartanburg and Union counties.

“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the Aug. 14 deadline,” said Kem Fleming, director of SBA Field Operations Center East, in a news release.

Working capital disaster loans up to $2 million are available at 3.38% for small businesses, and 2.5% for private nonprofit organizations with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable and other expenses that could have been paid had the disaster not occurred, the release said.

-