SPARTANBURG, S.C. (WSPA) — The Spartanburg Area Chamber of Commerce’s Bringing Back the Burg Task Force on Thursday launched a fund to help small businesses recover from and survive the economic impacts of coronavirus.
The fund, which as of Thursday afternoon had $453,000, includes contributions from the Spartanburg city, the county, the Mary Black Foundation, South State Bank and OneSpartanburg. More than half the funds are restricted to business located in, serving and/or employing people from low- and moderate-income areas of the county.
Each business can receive as much as $10,000 in loans. After one year, up to half of that loan can be forgivable.
“There are a lot of businesses that for whatever reason did not gain access to PPE or did not gain access to EIDL,” Allen Smith, the Chamber of Commerce’s CEO, said. “The data indicates that. We’ve heard that from the community.”
To donate to or learn more about the fund and which businesses are eligible, click here.
To apply for a loan from the small business fund, click here.