SBA Disaster Loans Available For Excessive Moisture

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Photo by Nathan Giese

Texas small businesses can now apply for Economic Disaster Loans from the Small Business Association for excessive moisture experienced from April 1 to August 1. 31.

Counties eligible to apply for the loans include Hale, Castro, Bailey, Floyd and Hockley, among others.

The loans are intended for those who have suffered a negative economic impact on businesses dependent on farmers and ranchers who suffered losses in agricultural production due to excessive humidity earlier this year.

Businesses eligible for economic disaster loans of up to $ 2 million include small non-farm businesses, small farm cooperatives, small aquaculture businesses, and most private non-profit organizations of any size. The loans should help meet financial obligations and operating expenses that might have been covered had the disasters not occurred.

The United States Secretary of Agriculture designated the agricultural disaster on October 7. Businesses primarily engaged in agriculture or ranching are not eligible for SBA disaster assistance. Farm businesses should contact the Farm Services Agency regarding USDA assistance made available by the Secretary’s Statement.

The deadline to apply for the loans is June 7th. To apply, visit https://disasterloanassistance.sba.gov/ela/s/, call 800-659-2955 or email [email protected]


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