SBA Offers Disaster Assistance to South Carolina Businesses Economically Affected by the McTeer Bridge Closure

    WASHINGTON, Aug. 23 /PRNewswire-USNewswire/ -- Steven Preston,
 Administrator of the U.S. Small Business Administration (SBA) announced
 that low-interest disaster loans are available to small businesses located
 in the counties of Beaufort, Colleton, Jasper and Hampton affected by the
 closure of the McTeer Bridge beginning on April 26, 2007 and continuing.
 Administrator Preston took this action following an August 14, 2007, letter
 from South Carolina Governor Mark Sanford requesting a SBA disaster
 declaration.
 
     "We look forward to working with the State of South Carolina in making
 our loans available to small businesses that sustained economic injury due
 to closure of the bridge," said Administrator Preston. "We will be swift in
 our efforts to help the business owners with their working capital needs."
 
     Eligible small businesses may qualify for loans up to $1.5 million.
 Interest rates are available at 4 percent with loan terms up to 30 years.
 SBA determines eligibility for the loans based on the size and type of the
 business and its financial resources. Loan amounts and terms are set by SBA
 and based upon each applicant's financial condition.
 
     "SBA can help these small businesses overcome their economic losses by
 offering these working capital loans, but the help cannot start until they
 submit an SBA Disaster Loan application to us," said Elliott Cooper, SBA's
 South Carolina District Director.
 
     Applications and program information are available by calling the SBA's
 Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the
 hearing-impaired), Monday through Friday from 8 a.m. until 9 p.m.; Saturday
 from 9 a.m. to 5:30 p.m. EDT. Business loan applications can also be
 downloaded from the SBA website at
 http://www.sba.gov/services/disasterassistance. Completed applications
 should be mailed to: U.S. Small Business Administration, Processing and
 Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.
 
     Completed loan applications must be returned to SBA no later than May
 22, 2008.
 
     For more information about the SBA's Disaster Loan Programs, visit our
     website at http://www.sba.gov/services/disasterassistance
 
 
 
 
 
 

SOURCE U.S. Small Business Administration