Federal disaster loans now available
The U.S. Small Business Administration (SBA) issued a disaster declaration last week at the request of Governor Abbot. This declaration will make low-interest federal disaster loans available to businesses and residents affected by the storms that came through our area on Oct 20.
The SBA will operate a center to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. The center, located at the Bachman Lake Branch Library, opened today and will remain open until further notice. No appointment is necessary.
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. Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.