x
Breaking News
More () »

Southeast Texas's Leading Local News: Weather, Traffic, Sports and more | Southeast Texas, Texas | 12NEWSNOW.com

SBA offering low interest disaster loans to businesses, residents affected by winter storm

Applicants can call or email the virtual center to receive help with their online loan applications.

BEAUMONT, Texas — Low interest disaster loans are being offered to Texas businesses and residents in 77 counties following last week's winter storm as part of the President's disaster declaration.

The Small Business Administration is launching a Virtual Business Recovery Center to help Texas businesses affected by the winter storm according to ta news release from the SBA.

In addition a Virtual Virtual Disaster Loan Outreach Center is being launched to assist renters and homeowners affected by the storm the release said.

Applicants can call or email the virtual center to receive help with their online loan applications.

The centers will operate Monday - Friday, from 7 a.m. - 7 p.m. CT and applicants can call (800) 659-2955 or email FOCWAssistance@sba.gov during those times for help with their applications.

To be considered for all forms of disaster assistance, survivors must first contact the Federal Emergency Management Agency at www.disasterassistance.gov. Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/.

MORE | Disaster Assistance via FEMA

MORE | Disaster Assistance via SBA

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 can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. 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 3 percent for businesses, 2 percent for private nonprofit organizations and 1.25 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.

From an SBA news release...

Low-interest federal disaster loans are now available to Texas businesses and residents as a result of President Biden’s major disaster declaration, U.S. Small Business Administration’s acting Administrator Tami L. Perriello announced.

The declaration covers 77 Texas counties as a result of the severe winter storms that began on Feb. 11, 2021. See below for the list of declared counties.

“SBA is strongly committed to providing Texas with the most effective and customer-focused response possible and with access to federal disaster loans to help businesses and residents affected by this disaster,” said Perriello. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

In consideration of the public health concerns due to the Coronavirus pandemic, on Tuesday, Feb. 23, SBA will establish a Virtual Business Recovery Center to provide personalized assistance to business owners. In addition, SBA will also open a Virtual Disaster Loan Outreach Center to help homeowners and renters. Customer Service Representatives will be available to business owners and individuals to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application.

Virtual Business Recovery Center and Virtual Disaster Loan Outreach Center

Monday – Friday

8 a.m. – 8 p.m. EDT

FOCWAssistance@sba.gov

(800) 659-2955

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 can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage. 

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. 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 3 percent for businesses, 2 percent for private nonprofit organizations and 1.25 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.

To be considered for all forms of disaster assistance, survivors must first contact the Federal Emergency Management Agency at www.disasterassistance.gov. Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/.

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.

The 77 counties are: Angelina, Aransas, Bastrop, Bee, Bell, Bexar, Blanco, Brazoria, Brazos, Brown, Burleson, Caldwell, Calhoun, Cameron, Chambers, Collin, Comal, Comanche, Cooke, Coryell, Dallas, Denton, DeWitt, Ellis, Falls, Fort Bend, Galveston, Gillespie, Grimes, Guadalupe, Hardin, Harris, Hays, Henderson, Hidalgo, Hood, Jasper, Jefferson, Johnson, Kaufman, Kendall, Lavaca, Liberty, Madison, Matagorda, Maverick, McLennan, Montague, Montgomery, Nacogdoches, Nueces, Orange, Palo Pinto, Panola, Parker, Polk, Rockwall, Sabine, San Jacinto, San Patricio, Scurry, Shelby, Smith, Stephens, Tarrant, Travis, Tyler, Upshur, Van Zandt, Victoria, Walker, Waller, Wharton, Wichita, Williamson, Wilson and Wise.

Also on 12NewsNow.com...