SBA Tops $15 Million in Disaster Assistance Loans

Release Date: 
Monday, August 27, 2018
Release Number: 
TX 15584-04
Contact: 
Richard A. Jenkins, (916) 735-1500, Richard.Jenkins@sba.gov

Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA has approved more than $15 million in federal disaster loans for Texas businesses and residents impacted by severe storms and flooding in Cameron, Hidalgo and Jim Wells counties that occurred June 19 - July 13, 2018. According to Garfield, SBA has approved $189,000 for businesses and $15,623,900 for residents to help rebuild and recover from this disaster.

“SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Garfield. Businesses and residents who sustained damages are encouraged to register prior to the Sept. 4, 2018, deadline with the Federal Emergency Management Agency at www.disasterassistance.gov. “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 continues to provide one-on-one assistance to disaster loan applicants at the following locations on the days and times indicated. No appointment is necessary.

HIDALDGO COUNTY

Disaster Recovery Center

McAllen Chamber of Commerce

Old Church Winery

700 North Main Street

McAllen, TX  78504

Mondays – Fridays, 9 a.m. – 7 p.m.

Saturdays 8 a.m. – 3 p.m.

HIDALDGO COUNTY

Disaster Recovery Center

City of Mission Social Event Center

115 South Mayberry Road

Mission, TX  78572

Mondays – Fridays, 9 a.m. – 7 p.m.

Saturdays 8 a.m. – 3 p.m.

HIDALDGO COUNTY

Disaster Recovery Center

City of Weslaco Economic Development Corporation

275 South Kansas Ave.

Weslaco, TX  78596

Mondays – Fridays, 9 a.m. – 7 p.m.

Saturdays 8 a.m. – 3 p.m.

JIM WELLS COUNTY

Disaster Recovery Center

Boys Club of Alice

3001 Old Kingsville Road

Alice, TX  78332

Mondays – Fridays, 7 a.m. – 7 p.m.

Saturdays 8 a.m. – 3 p.m.

All centers are closed for Labor Day, Monday, Sept. 3

For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. These economic injury disaster loans are available in Brooks, Cameron, Duval, Hidalgo, Jim Wells, Kenedy, Kleberg, Live Oak, Nueces, San Patricio, Starr and Willacy counties.

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.

 
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. These low-interest federal disaster loans for property damage are available in Cameron, Hidalgo and Jim Wells counties.
 
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. 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. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. 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 property damage is Sept. 4, 2018. The deadline to apply for economic injury is April 8, 2019.

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. 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 or 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.