NFIB State Director Ben Homeyer applauded Gov. Henry McMaster’s plan to set aside an additional $123 million for grants to help South Carolina small businesses impacted by the COVID-19 pandemic. The grant program was included in the governor’s executive budget, which he announced today.
Under the governor’s proposal, businesses with fewer than 25 employees that can demonstrate financial need related to the coronavirus could qualify for grants. The program would be available to more small businesses than the SC CARES Small Business Grant, a $40 million program that prioritized minority-owned businesses, businesses that didn’t receive federal Paycheck Protection Program loans or other CARES Act funds, had 15 or fewer employees and demonstrated financial need.
“Governor McMaster’s announcement comes at a critical time for many small businesses,” Homeyer said. “One in four small businesses surveyed last month by the NFIB Research Center warned they may be forced to close within the next six months unless economic conditions improve soon.
“South Carolina’s small businesses are doing everything they can to keep the doors open while following government guidelines to keep customers and employees safe and avoid spreading the coronavirus,” Homeyer said. “Governor McMaster’s grant program could be what determines whether a small business gets through this devastating crisis or closes its doors for good and puts people out of work.”