SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to certain private nonprofit organizations in Comal County following the amendment to President Biden’s April 21 major disaster declaration for Public Assistance as a result of the severe winter storm that occurred Jan. 30 - Feb. 2 announced Administrator Isabella Casillas Guzman of the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.
These low-interest federal disaster loans are available in Anderson, Bastrop, Blanco, Burleson, Burnet, Comal, Falls, Franklin, Gillespie, Hays, Henderson, Hopkins, Kendall, Kerr, Kimble, Lee, Leon, Limestone, Milam, Red River, Robertson, Travis and Williamson counties.
Although the deadline to apply for a disaster loan for physical damages was June 20, private nonprofits in Comal County may apply with an explanation that they were not eligible until this June 30, amendment to the declaration.
SBA may lend private nonprofits 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 help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For certain private nonprofit organizations of any size, SBA also offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the private nonprofit suffered any property damage.
The interest rate is 2.375 percent with terms up to 30 years. The deadline to apply for property damage is June 20, 2023. The deadline to apply for economic injury is Jan. 22, 2024.
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. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
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Recently, U.S. SBA Administrator Isabella Casillas Guzman announced a policy change granting 12 months of no payments and 0% interest. This pertains to all disaster loans approved in response to disasters declared on or after September 21, 2022, through September 30, 2023. This policy change will benefit disaster survivors and help them to decrease the overall cost of recovery by reducing the amount of accrued interest they must repay. Details are available through the SBA Disaster Assistance Customer Service Center at (800) 659-2955. Individuals with verbal or hearing impairments may dial 7‑1‑1 to access telecommunications relay services from 8:00 a.m. to 8:00 p.m. ET, Monday to Friday, or email: disastercustomerservice@sba.gov.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
Disaster press release
TX 17889-05