SBA offering disaster loans for Windsor Green victims - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Small Business Administration offering disaster loans for Windsor Green victims

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MYRTLE BEACH, SC (WMBF) – Residents in the Windsor Green Condo Complex have until the end of the month to apply for a Economic Injury Disaster Loan if their business or non-profit organization was affected by the fire on March 16, 2013.

The capital loans are being made available by the U.S. Small Business Administration, and up to $2 million is available at a 2.875 percent interest rate for non-profits, and 4 percent for small businesses.

"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 Dec. 30 deadline," said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.

Below is a news release from the SBA explaining how to apply for an SBA loan, and what the loan money is intended for:

South Carolina Deadline to Apply for Economic Injury Disaster Loans is Dec. 30 

ATLANTA - The U.S. Small Business Administration is reminding businesses in South Carolina that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations for damages due to the Windsor Green Condo Complex fire in Myrtle Beach on March 16, 2013.

"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 Dec. 30 deadline," said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.

Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 2.875 percent for private non-profit organizations of all sizes and 4 percent for small businesses, 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.  To be considered for this assistance, eligible entities need to apply by the deadline.

These EIDLs are available to small businesses and most private non-profit organizations in Dillon, Georgetown, Horry and Marion counties in South Carolina; Brunswick, Columbus and Robeson counties in North Carolina.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.

To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to disastercustomerservice@sba.gov.  Loan application forms can also be downloaded from www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

The deadline for economic injury applications is December 30, 2013.

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