Federal Low-Interest Disaster Loans Offered to Texas Storm Survivors

AUSTIN, Texas – Most Texans who have registered for disaster assistance from the Federal Emergency Management Agency (FEMA), following the October severe storms, tornadoes, straight-line winds and flooding, will receive an automated phone call from the U.S. Small Business Administration (SBA).

FEMA grants may not cover all damage or property loss. Private insurance and low-interest loans from the SBA are major sources of additional funding for disaster recovery.

The recorded message gives instructions on how to request an application for a low-interest disaster loan. Loans are available to help disaster survivors – including businesses, private non-profits, homeowners and renters with recovery efforts – in their recovery efforts.

Businesses of all sizes and 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 also offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available to businesses regardless of any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

SBA provides one-on-one assistance to disaster loan applicants at any of the Disaster Recovery Centers in the affected area. Additional information is available online at sba.gov/disaster or by calling SBA Customer Service Center at 800-659-2955. Deaf and hard-of-hearing persons may call 800-877-8339.

To be considered for all forms of disaster assistance, SBA encourages survivors to first register with FEMA online at DisasterAssistance.gov or by phone (voice, 711 or relay service) at 800-621-3362. TTY users should call 800-462-7585. The toll-free lines are open 7 a.m. to 10 p.m. seven days a week. Multilingual operators are available.

The presidential disaster declaration of Nov. 25 makes federal assistance available to eligible individuals and business owners in 16 counties: Bastrop, Brazoria, Caldwell, Cameron, Comal, Galveston, Guadalupe, Hardin, Harris, Hays, Hidalgo, Liberty, Navarro, Travis, Willacy and Wilson.