Small Business, Nonprofit Relief Requests Exceed Available Funding in South Carolina
Monday, November 9th, 2020
More than 11,200 establishments have requested $290 million in relief to reimburse them COVID-19-related expenses in South Carolina’s relief program for small and minority-owned businesses and nonprofits.
The amount of relief funds requested far exceeds the amount of money allocated to the programs. State legislators allocated $40 million earlier this year for the Minority and Small Business Program, and a total of $25 million to the Nonprofit Relief Program. In total, the allocated funds cover less than a quarter of the funds requested.
Read More at The Neighbor.