UPDATE: Disaster Loan Outreach Center Will Remain Open Through Friday, April 12, 4 p.m.

Posted by 04/09/2024 Categories: Bamberg County Airport Bamberg County Emergency Services bamberg south carolina city of bamberg south carolina cleanup campaign community community service environment government Keep Bamberg County Beautiful local government national weather service Public Works South Carolina tornado volunteer work

FOR IMMEDIATE RELEASE

To: News Media

From: Bamberg County Administration

Date: April 9, 2024

Re: UPDATE: Disaster Loan Outreach Center Will Remain Open Through Friday, April 12, 4 p.m.

Bamberg, South Carolina (April 2024) – DLOC Hours Extended: It has been exactly three months since an EF-2 tornado directly hit Bamberg, and the U.S. Small Business Administration (SBA) has extended the operating hours of the Disaster Loan Outreach Center (DLOC) located at the Bamberg County Courthouse Annex (1234 North Street) through this Friday, April 12, 4 p.m..

Last month, SBA approved SC Governor Henry McMaster’s request for disaster relief for Bamberg County as well as adjacent Allendale, Barnwell, Colleton, Hampton, and Orangeburg Counties. As a result, residents and business owners who incurred property damage from the tornado are eligible to apply for low-interest disaster loans.

The operational hours for the Disaster Loan Outreach Center (DLOC) located at the Bamberg County Courthouse Annex (1234 North Street) have been extended until this Friday, April 12, 4 p.m. with customer service representatives on site to assist residents and business owners with the SBA application process. The DLOC hours of operation for the remainder of the week are as follows:

Hours: Tuesday, Wednesday, Thursday: 9 a.m.-5 p.m.

Friday: 9 a.m.-4p.m.

Permanent Closure: Friday, April 12 at 4 p.m.

According to SBA’s South Carolina District Director Richard White, “Businesses and private non-profit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.” Additionally, Economic Injury Disaster Loans (EIDL) are available for businesses regardless of whether they suffered any physical property damage.

Furthermore, loans up to $500,000 are available for homeowners to repair or replace damaged or destroyed real estate, and loans up to $100,000 are available for homeowners and renters to repair or replace damaged or destroyed personal property.

According to South Carolina Emergency Management Division (SCEMD) Individual Assistance Officer Jessica Haygood:

Applicants may be eligible for a loan increase of up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain, or retaining wall to help protect property and occupants from future damage.

Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.688% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and monthly payments are not due until 12 months from the date of the initial disbursement. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online and receive additional disaster assistance information at sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The filing deadline to return applications for physical property damage is May 21, 2024. The deadline to return economic injury applications is Dec. 23, 2024.

Bamberg County residents with any questions regarding the SBA loan application process should not hesitate or delay in seeking advice from the SBA professionals.

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For more information on this press release, email info@bambergcounty.sc.gov.