August 20, 2024: In response to the catastrophic flooding caused by Tropical Storm Debby in southeastern Georgia and the South Carolina Lowcountry, the Small Business Assistance Corporation (SBAC) announces the launch of its Storm Recovery Loan Program. This loan program provides federal funding to provide financial assistance to local small businesses impacted by flooding.
Tropical Storm Debby has brought historic rainfall to the region, resulting in widespread flooding and road closures that have severely impacted local businesses. SBAC’s new loan program provides immediate financial assistance to help these businesses cover necessary recovery expenses. Qualified borrowers can obtain up to $15,000 in assistance. Financing will have a maximum term of 36 months, a fixed interest rate of 7%, and interest-only payments through 2025.
“Our community has been greatly impacted by this disaster,” said Wendy Jeffers, SBAC lending director. “We are committed to supporting our small businesses during this difficult time by providing them with the financial resources they need to rebuild and recover.”
Borrowers must be an existing business, file two years of business tax returns, have a current business license, and submit a written statement of impact and need. All loans are subject to availability of funds and credit approval.
Local community organizations, banks, businesses, and media outlets are encouraged to spread the word about this crucial support for our small business community. For more information or to apply, please visit
SBAC Website or contact SBAC directly.
The Small Business Assistance Corporation (SBAC) is a nonprofit lending organization that provides equitable access to capital and business opportunities by focusing on community strength and an inclusive economy. Since its founding in 1989, SBAC has supported small businesses in Southeast Georgia and the Low Country in South Carolina with customized financial solutions and technical assistance.