Low-interest federal disaster loans are now available to Texas businesses, including those in McLennan County.
In consideration of the public health concerns due to the Coronavirus pandemic, SBA has established a Virtual Business Recovery Center to provide personalized assistance to business owners. Customer Service Representatives are available to business owners and individuals to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application.
Virtual Business Recovery Center and Virtual Disaster Loan Outreach Center
Monday – Friday
7 a.m. – 7 p.m. CST
FOCWAssistance@sba.gov | (800) 659-2955
Details
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. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to 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 to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.
Interest rates can be as low as 3 percent for businesses and 2 percent for private nonprofit organizations. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
To be considered for all forms of disaster assistance, survivors must complete an application with the Federal Emergency Management Agency (FEMA): www.disasterassistance.gov.
Applicants may apply online, receive additional disaster assistance information and download applications at disasterloanassistance.sba.gov.
Additional information:
SBA’s Customer Service Center
(800) 659-2955 | disastercustomerservice@sba.gov
sba.gov/local-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.
Application Filing Deadlines:
Physical Damage: April 20, 2021
Economic Injury: November 20, 2021
View the Disaster Loan Fact Sheet >