SBA Economic Disaster Loans Available To Texas Small Businesses
Sacramento, California. ?? Small non-farm businesses in 61 counties in Texas and a neighboring county of Oklahoma are now eligible to apply for low-interest federal loans from the U.S. Small Business Administration, Director Tanya announced. N. Garfield of the SBA’s Disaster Field Operations Center-West. These loans compensate for the economic losses due to the drop in income caused by the winter storm, blizzard, snow, ice and high winds in the following major counties that occurred from February 10 to 19, 2021.
Primary counties of Texas: Bexar, Burleson, Cameron, Comanche, Concho, Fannin, Fisher, Jackson, Menard, Nolan, Runnels, Willacy and Williamson;
Neighboring counties of Texas: Atascosa, Bandera, Bastrop, Bell, Brazos, Brown, Burnet, Calhoun, Coke, Coleman, Collin, Colorado, Comal, Delta, Eastland, Erath, Grayson, Guadalupe, Hamilton, Hidalgo, Hunt, Jones, Kendall, Kenedy, Kent , Kimble, Lamar, Lavaca, Lee, Mason, Matagorda, McCulloch, Medina, Milam, Mills, Mitchell, Robertson, Schleicher, Scurry, Stonewall, Sutton, Taylor, Tom Green, Travis, Victoria, Washington, Wharton and Wilson;
Neighboring Oklahoma County: Bryan.
Eligibility for the SBA covers both the economic impacts on businesses dependent on farmers and ranchers who suffered agricultural production losses caused by the disaster and on businesses directly affected by the disaster, ?? Garfield said.
Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size may be eligible for economic disaster loans of up to $ 2. million dollars to help meet financial obligations and operating expenses that might have been covered had the disaster not occurred. occurred.
Eligibility for these loans is based only on the financial impact of the disaster and not on actual property damage. These loans have an interest rate of 3% for businesses and 2% for private non-profit organizations, with a maximum term of 30 years and are available for small businesses and most non-profit organizations. private profit without the financial capacity to compensate for the negative impact without difficulties, ?? Garfield said.
By law, the SBA grants disaster loans for economic injuries when the US Secretary of Agriculture designates an agricultural disaster. The secretary declared this disaster on April 23, 2021.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Farm businesses should contact the Agricultural Services Agency regarding assistance from the US Department of Agriculture made available by the secretary’s statement.
Applicants can apply online, receive additional information about disaster assistance, and download applications at https://disasterloanassistance.sba.gov/
. Applicants can also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA Disaster Assistance. People who are deaf or hard of hearing can call (800) 877-8339. Completed applications should be mailed to the US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to submit an economic loss claim is December 23, 2021.