Small companies have already been particularly laborious hit by COVID-19. The latest spike in unemployment claims throughout the state and the decline in short-term income have some native enterprise homeowners rattled.
Whereas an financial stimulus package deal appears to be practically prepared, the Small Enterprise Administration (SBA) has began its wheels turning to ease the ache by offering emergency loans to small companies throughout the nation.
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By City Paper Staff
The SBA will present loans of as much as $2 million in catastrophe help for small companies in South Carolina. Purposes may be discovered on-line now. Loans can be utilized for fastened debt, payroll, and different payments. Rates of interest for these allowances are 3.75 % for small companies and a pair of.75 % for personal nonprofits. The deadline to use for the SBA mortgage is Dec. 21 2020.
A Goldman Sachs survey of small companies discovered just a little over half imagine they will not survive past three months because of the financial impression of COVID-19. Small companies in South Carolina employed 46.7 % of the non-public workforce in 2015, in response to the SBA, creating some 29,867 jobs that yr.
Governor orders SC eating places and bars to shut for dine-in service over the coronavirus: “Perceive we’re in a disaster”
Governor orders SC restaurants and bars to close for dine-in service over the coronavirus
“Understand we are in a crisis”
On Tuesday, Gov. Henry McMaster ordered all South Carolina bars and restaurants to close their dining rooms starting on Wed. March 18, urging them to shift to take-out service as cases of the coronavirus continue to add up across the state.
By Sam Spence
Lodging and meals service, one in all Charleston’s largest industries, can also be the most important small enterprise employer within the state, offering 133,124 jobs. Presently, a lot of these persons are out of a job due to closures that bar dine-in service.