Congressman Gonzalez Announces $10 Million in Disaster Assistance Loans from SBA

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Image for illustration purposes only
Image for illustration purposes only

Texas Border Business

MCALLEN – Congressman Vicente Gonzalez (TX-15) announced more than $10 million in federal disaster loans for South Texas businesses and residents impacted by severe storms and flooding that occurred between June 24-25, 2019, and were approved by the Small Business Administration (SBA). The deadline to register for federal assistance is Monday, September 16.

“The federal government is here to assist those in Hidalgo, Willacy and Cameron Counties who sustained damages to their homes and businesses during the devastating flood that caused serious damages to homes and businesses in June,” said Congressman Gonzalez. “Deadlines to register for this aid are fast approaching and I encourage all who can to take advantage of these resources.”

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets


SBA continues to provide one-on-one assistance to disaster loan applicants at the following locations on the days and times indicated. No appointment is necessary.


CAMERON COUNTY
Disaster Recovery Center
La Feria Safe Room
1001 Pancho Maples Drive
La Feria, TX 78559
Mondays – Fridays,
8 a.m. – 7 p.m.
Saturdays,
10 a.m. – 6 p.m.
HIDALGO COUNTY
Disaster Recovery Center
La Villa Youth Center
302 West Second St.
La Villa, TX  78562
Mondays – Fridays,
8 a.m. – 7 p.m.
Saturdays,
10 a.m. – 6 p.m.

WILLACY COUNTY
Disaster Recovery Center
Community County Safe Room
10804 Business 77
Raymondville, TX 78580
Mondays – Fridays,
8 a.m. – 7 p.m.
Saturdays,
10 a.m. – 6 p.m.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to help business and residents with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for economic injury is April 17, 2020.

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Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. 

Interest rates can be as low as 4 percent for businesses, 2.75 percent for private nonprofit organizations and 1.938 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online, receive additional disaster assistance information and download applications online.  Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155. 

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