TX 13999-02 Residents and Businesses Affected by the Hutchinson County Wildfires have until July 21 to Apply for Federal Disaster Loans

Sacramento, Calif. – Calvin Davis, Director of the U. S. Small Business Administration’s (SBA) Lubbock District Office, announced today that individuals and businesses who have suffered property damage as a result of the wildfires that began in Hutchinson County on May 11, 2014, have three weeks left to apply for a U.S. Small Business Administration (SBA) disaster loan.  The deadline to return loan applications for property damage is
July 21, 2014.

These low-interest federal disaster loans are available to Texas residents and businesses in Hutchinson County and the neighboring counties of Carson, Hansford, Moore, Ochiltree, Roberts and Sherman.

“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,” Davis said.

“Businesses of any size 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.  SBA can also lend additional funds to homeowners and businesses to help 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, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business suffered any property damage,” Davis continued.

Interest rates can be as low as 2.188 percent for homeowners and renters, 2.625 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years.  Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling toll-free at (800) 659-2955 or e-mailing disastercustomerservice@sba.gov. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339.  For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.

The deadline to return economic injury applications is February 20, 2015.

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841

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Release Number: 
TX 13999-02
Release Date: 
Monday, June 30, 2014 - 12:00am
Richard Jenkins (916) 735-1500
Related State: 
Field Operations Center: