Here’s how business owners and those unemployed from Hurricane Matthew can get benefits and loans
The U.S. Small Business Administration will establish a Business Recovery Center for Beaufort County businesses, nonprofits and residents starting Oct. 21 at the Hilton Head Island-Bluffton Chamber of Commerce main office at 1 Chamber of Commerce Drive on Hilton Head Island. The center will be open from 8:30 a.m. to 5 p.m. Monday through Friday, and 9 a.m. to 1 p.m. Saturday until further notice. No appointment is needed.
The chamber will also present a Disaster Assistance Workshop from 10 a.m. to 4 p.m. Oct. 27 at the main office.
SBA representatives will assist those affected by Hurricane Matthew, and can provide information about disaster loans, answer questions and assist in completing the SBA application.
The SBA offers low-interest, long-term disaster loans for physical damage and working capital. The filing deadline is Dec. 13. The deadline to return economic injury applications is July 12, 2017.
Businesses and nonprofits can apply for up to $2 million to repair or replace disaster damaged real estate, machinery, equipment, inventory and other business assets. Loans for working capital, known as Economic Injury Disaster Loans, are available even if the business did not suffer any physical damage.
Homeowners can apply for up to $200,000 to repair or replace disaster damaged real estate. Homeowners and renters can apply for up to $40,000 to repair or replace damaged personal property including automobiles.
Interest rates are as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations and 1.563 percent for homeowners and renters, with terms up to 30 years.
The SBA customizes loan amounts and terms based on each applicant’s circumstances.
For more information, call 800-659-2955 (or 800-877-8339 for the deaf and hard-of-hearing) or email disastercustomerservice@sba.gov
Loan applications can be downloaded at www.sba.gov. Applicants may also apply online at https://disasterloan.sba.gov/ela.
To be considered for all forms of disaster assistance, those affected by the hurricane should register with the Federal Emergency Management Agency at www.DisasterAssistance.gov, by mobile device at m.fema.gov or call the toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362 (800-462-7585 TTY).
The Disaster Assistance Workshop will assist in answering questions, determining eligibility and beginning the filing process for unemployment.
If you or your employees were unemployed, had hours reduced or lost income as a direct result of Hurricane Matthew, you may be eligible for benefits. If you have employees that take advantage of these benefits, it will not count against you as an employer. Once the storm damage has been assessed and a disaster declaration has been made for a county, individuals have 30 days to file for benefits.
Details: https://dew.sc.gov/dua
This story was originally published October 21, 2016 at 4:24 PM with the headline "Here’s how business owners and those unemployed from Hurricane Matthew can get benefits and loans."