Source: US Federal Emergency Management Agency
Headline: SBA Loans Are a Meaningful Option for Texas Storm Survivors
SBA Loans Are a Meaningful Option for Texas Storm Survivors
AUSTIN – Low-interest disaster loans from the U
S
Small Business Administration are available to Texas residents, businesses of all sizes and nonprofit organizations that are recovering from the severe storms and flooding that occurred March 26-28, 2025
Residents and businesses in Cameron, Hidalgo, Starr, and Willacy counties may now apply if they had damage in the March storms
FEMA partners with other agencies to help meet the needs of disaster survivors
Disaster loans are the largest source of federal recovery funds for storm survivors
They help private property owners pay for disaster losses not covered by insurance, local or state programs
SBA loans also cover deductibles and increased cost of compliance after a disaster
Survivors should not wait for an insurance settlement before submitting an SBA loan application
Interest rates on disaster loans can be as low as 2
75% for homeowners and renters, 3
62% for private nonprofit organizations and 4% for businesses, with terms up to 30 years for physical damage to real estate, inventory, supplies, machinery and equipment
Loan amounts and terms are set by SBA and are based on each applicant’s financial condition
Survivors are not required to begin repaying the loan and the interest does not begin to accumulate for 12 months from the date the first disaster loan disbursement is awarded
Homeowners may be eligible for a disaster loan of up to $500,000 for primary residence repairs or rebuilding
SBA may also be able to help homeowners and renters with up to $100,000 to replace important personal property, including automobiles damaged or destroyed in the storms
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged property, destroyed real estate, machinery and equipment, inventory and other business assets
Applicants may be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes
Businesses of any size and private nonprofit organizations may apply for Economic Injury Disaster Loans (EIDL) in the counties of Cameron, Hidalgo, Starr, and Willacy and the contiguous counties of Brooks, Jim Hogg, Kenedy and Zapata
Businesses can apply for up to $2 million to help meet working capital needs caused by the disaster
Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact
Economic injury assistance is available regardless of whether the applicant suffered any property damage
In partnership with FEMA and the state, SBA representatives are available to provide one-on-one assistance to disaster loan applicants at sites throughout the affected areas
SBA’s Business Recovery Centers are open at the following locations:CAMERON COUNTYBusiness Recovery CenterHarlingen Chamber of Commerce311 E
Tyler Ave
Harlingen, TX 78559Mondays – Thursdays, 8 a
m
– 5 p
m
Friday, 8 a
m
– 4 p
m
HIDALGO COUNTYBusiness Recovery CenterValley Metro Transit Center510 S
Pleasantview Dr
BoardroomWeslaco, TX 78596Monday – Friday 8 a
m
to 5 p
m
To apply online or to download an application, go to SBA
gov/disaster
You may also call SBA’s Customer Service Center at 800-659-2955 or email DisasterCustomerService@sba
gov
The deadline to apply for an SBA physical disaster loan for the March storms is July 22, 2025
The last day for small businesses, small agricultural cooperatives and most private nonprofit organizations to apply for an SBA economic injury loan for the March storms is Feb
23, 2026
For the latest information about Texas’ recovery, visit fema
gov/disaster/4871 Follow FEMA Region 6 on social media at x
com/FEMARegion6 and at facebook
com/FEMARegion6/
toan
nguyen
Fri, 06/13/2025 – 12:08