Low Interest SBA Loans Available For Those Affected By The Storm

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

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

The Small Business Administration is launching a Virtual Business Recovery Center to help Texas businesses affected by the winter storm, according to an SBA press release.

In addition, a virtual disaster loan awareness center is being launched to help tenants and landlords affected by the storm, the statement said.

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

The centers will operate Monday through Friday, 7:00 a.m. to 7:00 p.m. CT and applicants can call (800) 659-2955 or email [email protected] during these hours for assistance with their nominations.

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

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Businesses of all sizes and private non-profit organizations can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to businesses and homeowners to help cover the cost of improvements to protect, prevent, or minimize the same type of damage from a disaster in the future.

Disaster loans of up to $ 200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and tenants are entitled to up to $ 40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 3% for businesses, 2% for private nonprofits, and 1.25% for landlords and tenants with terms of up to 30 years. The amounts and terms of the loan are set by the SBA and are based on the financial status of each applicant.

Excerpt from an SBA press release

Low Interest Federal Disaster Loans Now Available To Businesses And Residents Of Texas Following President Biden’s Declaration Of Major Disaster, Acting US Small Business Administration Administrator Says , Tami L. Perriello.

The statement covers 77 counties in Texas following severe winter storms that began on February 11, 2021. See below for a list of counties reported.

“The SBA is strongly committed to providing Texas with the most effective, customer-centric response possible and 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 top priority at SBA. “

In light of public health concerns from the coronavirus pandemic, on Tuesday, February 23, the SBA will establish a virtual business recovery center to provide personalized assistance to business owners. In addition, the SBA will also open a virtual disaster loan awareness center to assist homeowners and tenants. Customer service representatives will be available to business owners and individuals to answer questions about the SBA Disaster Loan Program, explain the application process, and help each person complete their electronic loan application. .

Virtual Disaster Recovery Center and Virtual Disaster Lending Awareness Center

Businesses of all sizes and private non-profit organizations can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to businesses and homeowners to help cover the cost of improvements to protect, prevent, or minimize the same type of damage from a disaster in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size, SBA offers economic disaster loans to help meet the fund’s needs of turnover caused by the disaster. Economic Injury Assistance is available to businesses regardless of any material damage.

Disaster loans of up to $ 200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and tenants are entitled to up to $ 40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 3% for businesses, 2% for private nonprofits, and 1.25% for landlords and tenants with terms of up to 30 years. The amounts and terms of the loan are set by the SBA and are based on the financial status of each applicant.

To be considered for all forms of disaster assistance, survivors should first contact the Federal Emergency Management Agency at www.disasterassistance.gov. Applicants can apply online, receive additional information on 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 US 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.

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