The U.S. Small Business Administration (SBA) is working to assist businesses and residents after the historic Texas winter storms last month. As of March 9, the SBA topped $11 million in disaster assistance loans.
Many Texas counties have been counted eligible for property damage and economic injury loans, including Kaufman County.
Businesses and residents who suffered damage can register for assistance by visiting www.disasterassistance.gov. The Federal Emergency Management Agency has set the registration deadline for April 20.
“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 stated in a news release. "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.”
The SBA provides one-on-one assistance virtually to disaster loan applicants. Applicants can connect with a virtual center by calling (800) 659-2955. Virtual centers are in operation 7 a.m. to 7 p.m. Monday through Friday.
Small businesses and many private non-profit organizations can apply for an Economic Injury Loan. This loan may be received without property damage from the storms. The deadline to apply is Nov. 19.
To learn more about disaster assistance loans and the SBA, visit www.sba.gov.