Establishes the Small Business Construction Impact Relief Program to provide repayable and forgivable loans to small businesses affected by state.
The Small Business Construction Impact Relief Act creates a program administered by the South Carolina Department of Commerce to offer loans to small businesses impacted by state road construction projects. Eligible businesses must demonstrate a revenue loss due to the construction and meet specific criteria, such as maintaining employment levels and tax compliance. The program includes repayable loans with no interest and forgivable loans if certain conditions are met.
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