SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced that low interest federal disaster loans are now available to small businesses, private nonprofit (PNP) organizations, and residents who sustained physical damages and economic losses from the severe storm, tornadoes, and straight-line winds that occurred Dec. 28, 2024. The SBA issued a disaster declaration in response to a request received from Gov. Greg Abbott on Jan. 14, 2025.
The disaster declaration covers the counties of Brazoria, Fort Bend, Galveston, Grimes, Harris, Liberty, Matagorda, Montgomery, San Jacinto, Walker, Waller, and Wharton.
Businesses and PNPs are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.
Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.
“SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the SBA. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”
The SBA also offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs, such as ongoing operating expenses for small businesses and PNPs. EIDL assistance is available regardless of whether the organization suffered any physical property damage.
Interest rates are as low as 4% for businesses, 3.625% for PNPs, and 2.563% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.
Beginning Tuesday, Jan. 21, SBA customer service representatives will be on hand at two Disaster Loan Outreach Centers (DLOC) to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application.
At the DLOCs, individuals can connect directly with SBA specialists to apply for disaster loans and learn about the full range of programs available to rebuild and move forward in their recovery journey. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov. The DLOCs hour of operations are listed below.
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BRAZORIA COUNTY Opens 12 p.m. Tuesday, Jan. 21 Mondays - Fridays, 9 a.m. – 6 p.m. |
MONTGOMERY COUNTY Opens 12 p.m. Tuesday, Jan. 21 Mondays - Fridays, 9 a.m. – 6 p.m. |
SBA’s disaster loan program has been replenished through the American Relief Act of 2025, signed into law by President Biden on December 21, 2024.
The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. 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.
The deadline to return physical damage applications is March 17. The deadline to return economic injury applications is Oct. 16.
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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.