Administrator Maria Contreras-Sweet, the head of the U.S. Small Business Administration (SBA) and member of President Obama's Cabinet, was in Columbia, South Carolina, today to meet with business owners, residents and local officials on recovery efforts in the aftermath of the recent floods. Contreras-Sweet announced additional SBA resources available to aid the region's recovery.
- SBA has 140 people on the ground currently helping
- SBA has received 160 disaster loan applications
- From these 160 applications, 110 businesses have already been approved and received financial help from SBA
- SBA has given 2.5 million dollars in disaster assistance
- Loans are available for up to $200,000 for primary residence and $40,000 for personal property, including renter losses
- The deadline to apply for physical demage loans is December 4, 2015
- The deadline to apply for economic injury loans is July 5, 2016