Loans available for Texas businesses impacted by cold weather crisis

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U.S. Small Business Administration’s appearing Administrator Tami L. Perriello has introduced that low-interest federal catastrophe loans at the moment are available to Texas businesses and residents on account of President Joe Biden’s main catastrophe declaration following traditionally cold weather.

The declaration covers 77 Texas counties on account of the extreme winter storms that started on Feb. 11.

“SBA is strongly committed to providing Texas with the most effective and customer-focused response possible and with access to federal disaster loans to help businesses and residents affected by this disaster,” Perriello stated. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

In consideration of the general public well being issues because of the coronavirus pandemic, the SBA on Tuesday will set up a digital business recovery middle to supply personalised help to business house owners.

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In addition, SBA will even open a digital catastrophe mortgage outreach middle to assist householders and renters. Customer service representatives can be available to business house owners and people to answer questions on SBA’s catastrophe mortgage program, clarify the application course of and assist every individual full their digital mortgage application.

The middle can be open Monday via Friday from 7 a.m. to 7 p.m. Central time.

The quantity is 800-659-2955 and e-mail tackle is [email protected]

Businesses of all sizes and personal nonprofit organizations could borrow as much as $2 million to restore or change broken or destroyed actual property, equipment and tools, stock and different business property. SBA may also lend further funds to businesses and householders to assist with the price of enhancements to guard, stop or reduce the identical kind of catastrophe harm from occurring sooner or later.

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For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most personal nonprofit organizations of any dimension, SBA gives financial harm catastrophe loans to assist meet working capital wants precipitated by the catastrophe. Economic harm help is available to businesses no matter any property harm.

Disaster loans as much as $200,000 are available to householders to restore or change broken or destroyed actual property. Homeowners and renters are eligible for as much as $40,000 to restore or change broken or destroyed personal property.

Interest charges may be as little as 3% for businesses, 2% for personal nonprofit organizations and 1.25% for householders and renters with phrases as much as 30 years. Loan quantities and phrases are set by SBA and are based mostly on every applicant’s monetary situation.

To be thought-about for all types of catastrophe help, survivors should first contact the Federal Emergency Management Agency at www.disasterassistance.gov.

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Applicants could apply on-line, obtain further catastrophe help info and obtain purposes at https://disasterloanassistance.sba.gov/.

Applicants may name SBA’s Customer Service Center at (800) 659-2955 or e-mail [email protected] for extra info on SBA catastrophe help.

Individuals who’re deaf or onerous of listening to could name (800) 877-8339. Completed purposes needs to be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The 77 counties are: Angelina, Aransas, Bastrop, Bee, Bell, Bexar, Blanco, Brazoria, Brazos, Brown, Burleson, Caldwell, Calhoun, Cameron, Chambers, Collin, Comal, Comanche, Cooke, Coryell, Dallas, Denton, DeWitt, Ellis, Falls, Fort Bend, Galveston, Gillespie, Grimes, Guadalupe, Hardin, Harris, Hays, Henderson, Hidalgo, Hood, Jasper, Jefferson, Johnson, Kaufman, Kendall, Lavaca, Liberty, Madison, Matagorda, Maverick, McLennan, Montague, Montgomery, Nacogdoches, Nueces, Orange, Palo Pinto, Panola, Parker, Polk, Rockwall, Sabine, San Jacinto, San Patricio, Scurry, Shelby, Smith, Stephens, Tarrant, Travis, Tyler, Upshur, Van Zandt, Victoria, Walker, Waller, Wharton, Wichita, Williamson, Wilson and Wise.

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RELATED: President Biden partially approves Gov. Abbott’s request for main catastrophe declaration

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