Greenville, S.C. — Upstate businesses rebuilding after the Sept. 17 Walhalla Main Street fire can tap federal Economic Injury Disaster Loans after Gov. Henry McMaster said the U.S. Small Business Administration approved his disaster declaration request.
About 10 Walhalla businesses were affected by the blaze along the downtown block. McMaster said the low-interest SBA loans are meant to help eligible small businesses, agricultural cooperatives and private nonprofits cover economic losses tied to the fire.
Loan terms cited in the announcement include up to $2 million with rates of 4 percent for businesses and 3.625 percent for nonprofits, repayment stretches of up to 30 years, and no payments required in the first 12 months after the initial disbursement. Physical property damage is not required to qualify.
Walhalla Mayor Tim Hall thanked McMaster and Sen. Thomas Alexander for securing the declaration. The city said the SBA acceptance opens the Economic Injury Disaster Loan Program for firms in the fire zone along Highway 28 between Catherine and Tugaloo streets.
An SBA Business Recovery Center is scheduled to open Thursday, Oct. 15, at Earle House, 105 W. South Broad St. in Walhalla, with weekday hours of 8:30 a.m. to 5 p.m. to help owners apply.
