Lowcountry Headlines

Lowcountry Headlines


SBA approves McMaster’s request for COVID-19 disaster assistance

ByPatrick Phillips|March 20, 2020 at 8:46 AM EDT - Updated March 20 at 8:46 AM

COLUMBIA, S.C. (WCSC) - The U.S. Small Business Administration approved a request from Gov. Henry McMaster to help the state’s small businesses with disaster assistance, McMaster’s office said Friday.

“These low-interest loans are of monumental importance to our business community," McMaster said. "There’s no doubt that our state’s small businesses have suffered losses throughout this incredibly difficult time, but help is on the way.

The disaster declaration means that South Carolina’s small businesses that have suffered substantial economic injury as a result of the COVID-19 virus may qualify for low-interest federal disaster loans.

All 46 counties are included in the disaster declaration.

McMaster requested the disaster declaration in a Tuesday letter to SBA Administrator Jovita Carranza.

"To have Administrator Carranza approve our request so quickly shows that President Trump’s administration is fully committed to helping our businesses recover from the impact of this virus,” McMaster said.

South Carolina’s businesses can apply online at:https://disasterloan.sba.gov/ela.

Copyright 2020 WCSC. All rights reserved.

Photo: Live 5 News

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