Bridge Closure Could Mean Loans for Local Businesses - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

05/16/07

Bridge Closure Could Mean Loans for Local Businesses

Not only has the damage to the McTeer Bridge caused a lot of traffic issues, but it's also hurting local businesses in the area. Now the Small Business Administration is stepping in to help those businesses affected by offering loan assistance local chamber officials say may help.

If enough businesses in the area are losing enough revenue, the state Small Business Administration can declare a disaster due to the bridge incident, and local businesses can qualify for SBA loans. Here's the release from the Beaufort County Emergency Management Division:

BEAUFORT, S.C. (10:30 AM, May 15. 2007) - POTENTIAL SBA LOAN APPLICATIONS AVAILABLE FOR LOCAL BUSINESSES....

According to the South Carolina Emergency Management Division in Columbia, Small Business Administration (SBA) applications are now available to local businesses affected by the/McTaeTBridge Incident.

In order to qualify for the loans, the SBA must issue a Disaster Declaration as a result of the bridge incident. The first step in this process is to determine what businesses have been impacted and the amount of economic injury they have sustained.

There must be a minimum of five (5) businesses that have sustained loss of revenue of approximately 40 percent based on the same period last year in order to request a declaration.

Businesses interested in obtaining a loan application may get them in the following manner:

  • Pick them up in person at 2001 Duke Street (2nd floor of the Law Enforcement Center)
  • Call 470-3100 to have them mailed or faxed
• They are also available at City Hall In the City of Beaufort and Town Mall in the Town of Port Royal.

Once completed, the forms should be returned to the Beaufort County Emergency Management Division as soon as possible. They can be:

  • Returned in person
  • Faxed to 470-3054
  • Mailed to Beaufort County Emergency Management, P.O. Drawer 1228, Beaufort, S.C, 29901

Anyone having questions or concerns may call the Beaufort County Emergency Management Division at 470-3100.

Contact the WTOC News team

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