SACRAMENTO, Calif. –
Regional Administrator Yolanda Olivarez of the U.S. Small Business Administration (SBA) announced today that SBA has approved more than $11.3 million in federal disaster loans to help Texas businesses and residents impacted by the severe storms, tornadoes and flooding that occurred March 7 - 29. According to Olivarez, SBA has approved business disaster loans totaling $366,100 and disaster home loans for $11 million to help rebuild from this disaster.
“SBA is committed to helping businesses and residents rebuild their homes and businesses as quickly as possible,” said Olivarez. Individuals and business owners who sustained damages are encouraged to register prior to the May 18 deadline with the Federal Emergency Management Agency (FEMA) by calling the tele‑registration number at (800) 621‑FEMA (3362) or (800) 462-7585 (TTY) for individuals who are deaf or hard‑of‑hearing. “Don’t miss out on any assistance you may be entitled to by not registering for help. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate,” she added.
SBA representatives are still meeting personally with business owners and residents at federal-state Disaster Recovery Centers in the following counties: Gregg, Harrison, Jasper, Limestone, Newton and Orange.
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. The SBA can also lend additional funds to help business and residents with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Business owners and individuals may apply online using SBA’s secure website at
https://disasterloan.sba.gov/ela
.
Disaster loan information, locations and application forms are available from SBA’s Customer Service Center by calling (800) 659‑2955 or emailing
disastercustomerservice@sba.gov
. Individuals who are deaf or hard‑of‑hearing may call (800) 877‑8339. For more disaster assistance information or to download applications, visit
. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for economic injury is Dec. 19, 2016.