Texas Border Business
MCALLEN, Texas – Congressman Vicente Gonzalez (TX-15) announced the availability of Economic Injury Disaster Loans (EIDL) from the Small Business Administration (SBA) for drought-related disasters. These funds are available to businesses in Brooks, Duval, Guadalupe, Hidalgo, Jim Hogg, Karnes, Live Oak, and Wilson Counties in the 15th District of Texas.
“Due to ongoing drought conditions in South Texas, the SBA has made available Economic Injury Disaster Loans for small businesses,” said Congressman Gonzalez. “These federal funds will help struggling counties and businesses by providing access to resources to combat these circumstances. I encourage those in the 15th District of Texas affected by these conditions to apply for this assistance.”
Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disasters not occurred.
Eligibility for these loans is based on the financial impact of the disasters only and not on any actual property damage. These loans have an interest rate as low as 3.75% for businesses and 2.75% for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, in drought disasters nurseries are eligible for SBA disaster assistance.
Applicants may apply online, receive additional disaster assistance information and download applications athttps://disasterloan.sba.gov/ela. 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. 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.
