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Posted on: October 26, 2018

SBA Offers Disaster Assistance to Texas Businesses and Residents Impacted by September Storms

Railing destroyed after flooding at a Flower Mound park in September

Due to the severe storms and flooding that occurred Friday, September 21 to Sunday, September 23, the U.S. Small Business Administration has made low-interest federal disaster loans available to Texas businesses and residents with property either damaged or destroyed by the disaster.

The disaster declaration makes SBA assistance available in Denton and Tarrant counties, as well as Crockett, Dallas, Edwards, Ellis, Henderson, Hill, Johnson, Kaufman, Kimble, Menard, Navarro, Parker, Schleicher, Sutton, Val Verde, and Wise 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, equipment, inventory, and other business assets. For small businesses, SBA offers Economic Injury Disaster Loans to help meet working capital needs that were caused by the severe storms and flooding. Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

The deadline to apply for property damage is Monday, December 17. To apply online, receive additional disaster assistance information, and download applications, visit https://disasterloan.sba.gov/ela. Applicants may also call the SBA Customer Service Center at 800.659.2955 or send an email.

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