Texas Border Business
AUSTIN – Governor Greg Abbott announced that the U.S. Small Business Administration (SBA) approved his request to include South Texas in the federal disaster declaration for severe weather following storms that impacted the Rio Grande Valley in late April and early May. Counties added to the federal declaration are Cameron, Hidalgo, and Willacy.
“Texas is blessed to have the support of our federal partners as our state recovers from severe storms in the Rio Grande Valley,” said Governor Abbott. “This SBA assistance will provide Texans who qualify with the financial tools needed to rebuild their homes and businesses. I thank our partners in the Trump Administration for their efforts to help Texas move forward from these disastrous storms.”
The SBA granted access to its Home Disaster Loans, Business Physical Disaster Loans, and Economic Injury Disaster Loan (EIDL) program, which will provide low-interest loans to qualifying homeowners, renters, and businesses in affected Rio Grande Valley communities following the severe storms and tornadoes that occurred at the start of May.
Applicants may apply online, receive additional disaster assistance information, and download applications at 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. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to the U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
SBA representatives will open a Disaster Loan Outreach Center to explain the application process, assist with completing applications, and address questions about the disaster loan programs. Starting today, a Disaster Loan Outreach Center will be located at 705 N Bowie Street in San Benito, TX, 78586, which will be open weekdays from 9 AM – 6 PM.
Governor Abbott continues to take action to provide all available resources to support communities impacted by severe weather, including:
- Pursuing SBA assistance for South Texas communities affected by storms
- Directing TDEM to request joint preliminary damage assessments with local and state officials in impacted South Texas communities
- Securing SBA assistance for coastal communities affected by storms
- Seeking SBA assistance for coastal communities impacted by storms
- Announcing approval of SBA assistance for North Texas communities impacted by storms
- Amending the state disaster declaration for severe weather to include affected coastal communities and directing TDEM to request joint preliminary damage assessments with local and federal officials in additional storm-impacted areas
- Requesting SBA assistance for affected North Texas communities
- Adding Palo Pinto County to the state’s severe weather disaster declaration
- Issuing a disaster declaration for North Texas storms and directing TDEM to request joint preliminary damage assessments with local and federal officials in storm-impacted communities
- Activating state emergency response resources ahead of severe weather risks
SBA Amends Disaster Declaration for Texas
WASHINGTON — In response to an amended Agency declaration, the U.S. Small Business Administration (SBA)announced the availability of low-interest federal disaster loans to small businesses, private nonprofit organizations (PNP), and residents in the Texas counties of Cameron, Hidalgo, and Willacy affected by severe storms and tornadoes occurring April 24 – May 1.
These low-interest federal disaster loans are available in the Texas counties of Calhoun, Cameron, Cooke, Denton, DeWitt, Goliad, Hidalgo, Hood, Jack, Jackson, Johnson, Lavaca, Montague, Palo Pinto, Parker, Refugio, Tarrant, Victoria, Willacy, and Wise.
Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.
Applicants may be eligible for a loan increase of up to 20% of their verified physical damage, for mitigation purposes. Eligible mitigation improvements may include insulating pipes, walls and attics, weather stripping doors, and windows, and installing storm windows to help protect property and occupants from future disasters.
SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, and private nonprofit (PNP) organizations — including faith-based organizations — impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.
EIDLs are for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills which could not be paid due to the disaster.
Interest rates are as low as 4% for businesses, 3.625% for nonprofits, and 2.875% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.
“When disasters strike, SBA’s Disaster Loan Outreach Centers perform an important role by assisting small businesses and their communities,” said Chris Stallings, Associate Administrator of the Office of Disaster Recovery and Resilience at the U.S. Small Business Administration. “At these centers, our SBA specialists help business owners and residents apply for disaster loans and learn about the full range of programs available to support their recovery.”
Beginning today, June 2, SBA customer service representatives will be on hand at the following DLOC to answer questions about SBA’s disaster loan program, explain the application process, and help each individual complete their application. Walk-ins are welcome, but you can schedule an in-person appointment in advance at appointment.sba.gov.
The center’s hours of operations are listed below:
CAMERON COUNTY
Disaster Loan Outreach Center
San Benito Annex Building 2
705 N. Bowie St.
San Benito, TX 78586
Opens at noon, today, June 2
Mondays – Fridays, 9:00 a.m. – 6:00 p.m.
Closed on Friday, June 19 in observance of Juneteenth Holiday
The following locations are also open and continue to serve survivors:
PARKER COUNTY
Disaster Loan Outreach Center
First United Methodist Church
109 W. Third St.
Springtown, TX 76082
Monday – Thursday, 9:00 a.m. – 6:00 p.m.
Closes permanently Thursday, June 4 at 6:00 p.m.
VICTORIA COUNTY
Disaster Loan Outreach Center
Regional Disaster Response and Recovery Center
104 S. William St.
Victoria, TX 77901
Monday – Thursday, 9:00 a.m. – 6:00 p.m.
Closes permanently Thursday, June 4 at 6:00 p.m.
