Gov. McMaster Announces Economic Injury Disaster Loans for Walhalla Businesses Affected by Fire

What this means

South Carolina Governor Henry McMaster announced that the U.S. Small Business Administration approved Economic Injury Disaster Loans for eligible small businesses, small agricultural cooperatives and private nonprofits affected by the September 17 fire on Walhalla Main Street. Loans may cover ordinary operating expenses, do not require physical property damage, and may reach $2 million at the stated rates of 4% for businesses and 3.625% for nonprofits, with repayment terms up to 30 years. An SBA recovery center at Earle House in Walhalla is scheduled to operate from October 15 through 5 p.m. November 6, and economic-injury applications are due July 9, 2027.

Official release

Source material from South Carolina Governor’s Office. The wording below is the issuer’s statement.

October 12, 2026

COLUMBIA, S.C. – Governor Henry McMaster today announced that the U.S. Small Business Administration (SBA) has approved his request for a disaster declaration to provide Economic Injury Disaster Loans (EIDL) to eligible small businesses, small agricultural cooperatives and private nonprofit organizations affected by the Sept. 17, 2026, fire along Walhalla Main Street.

The SBA declaration provides eligible organizations with access to low-interest loans to help address economic losses and financial impacts resulting from the fire.

“Ten Walhalla businesses were impacted by this fire, and their recovery is essential to the continued economic success of downtown Walhalla,” said Gov. McMaster. “This assistance from the U.S. Small Business Administration will provide eligible businesses with access to critical financial resources as they navigate the economic impacts of the fire and work toward recovery.”

The South Carolina Emergency Management Division has been coordinating with Oconee County officials, state partners, and the Small Business Development Centers (SBDC) to provide support and coordination throughout the incident and recovery process.

An SBA EIDL declaration provides financial assistance to eligible organizations experiencing economic losses caused by a declared disaster or emergency. EIDL assistance can provide:

Working Capital Support: Loans may be used for ordinary and necessary operating expenses, including payroll, fixed debts, accounts payable, utilities, and other expenses.

No Physical Damage Required: Eligible organizations do not need to have experienced physical property damage to qualify.

Favorable Loan Terms: Eligible small businesses may apply for loans of up to $2 million, with low interest rates and repayment terms of up to 30 years.

Low Interest Rates: Loans are 4% for businesses and 3.625% for nonprofits.

Deferred Payments: Interest does not accrue, and payments are not required during the first 12 months following the initial loan disbursement.

To assist businesses and residents affected by the disaster, the SBA will open Business Recovery Center in Oconee County on Thursday, October 15, 2026, as noted below:

Business Recovery Center

Oconee County

Location: Earle House, 105 West South Broad Street, Walhalla, SC

Opening: Thursday, October 15, 12:00 pm

Hours: Monday – Friday, 8:30 am to 5:00 pm

Closed: Saturday-Sunday

Permanently Closes: Friday, November 6 at 5:00 pm

SBA representatives will be available at the center to assist eligible businesses and nonprofit organizations with applications and answer questions about available assistance.

To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.

The deadline to return economic injury applications is July 9, 2027.

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Release text attributed to South Carolina Governor’s Office. Consult the official publication for any subsequent corrections or updates.