Governor Henry McMaster has announced that South Carolina is now designated as a federal disaster area. Therefore, the SBA Economic Injury Disaster Loan (EIDL) application is now open to business owners in all of South Carolina’s 46 counties. To be eligible, businesses must meet the SBA requirements of a small business (typically 500 employees or fewer) and be adversely affected by COVID-19. To save time and frustration, we encourage you to contact one of our consultants to guide you through completing the loan application - we are trained to do this.
Note: The SBA website will experience unprecedented traffic.
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On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
If you wish to apply for the Advance on your EIDL, please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application before Monday March 30th. Applying for the Advance will not impact the status or slow your existing application.
Updated 3.31.2020 5:07 pm EDT