Saturday, November 23, 2013

US Small Biz Admin Issues Flood Loans

The US Small Business Administration (SBA) announced it will grant loans to Texas businesses and residents affected by flooding in late October.

On October 31, 2013, despite continuing drought conditions, 11 Texas counties experienced severe flooding. Caldwell, Hays, Travis, Bastrop, Blanco, Burnet, Comal, Fayette, Gonzales, Guadalupe and Williamson Counties were all affected by the storms that dumped torrential rains, causing flash floods.

Through the SBA, homeowners are eligible for federal loans up to $200,000.00 to repair property damages. Renters and property owners can also apply for loans up to $40,000 to cover damages and loss of personal property items. Businesses and NPOs are eligible for up to $2M in loans for real estate and durable capital (such as machinery) lost or damaged by flooding.

Offices for servicing those loans are scheduled to open in the respective counties between Nov. 25 and the Monday after the Thanksgiving holiday weekend.

Of the SBA's announcement, Governor Rick Perry stated:

"The tragedy of last month's storms weighs heavily on the hearts of all of us in Central Texas. This much needed assistance will help our families and local businesses get back on their feet and on the road to recovery as quickly as possible."
For those needing to apply, here is some information of the outreach centers scheduled to open soon:

Travis CountyDove Springs Recreation Center
5801 Ainez Drive
Austin, TX 78744
Opens Monday, Nov. 25 at 12:00PM

Hays CountyHays County Precinct 2 Office
5458 FM 2770
Kyle, TX 78640
Opens Tuesday, December 3 at 9:00AM
Caldwell County
Caldwell County Scott Annex
Caldwell County Office of Emergency Services
1403 Blackjack Street, Ste. E
Lockhart, TX 78644
Opens Thursday, December 5 at 9:00AM

For more information on SBA disaster loans or to request an application, go to the SBA's disaster relief loan site or call (800) 659-2955. Individuals with impaired hearing may call (800) 877-8339. The SBA can also be reached via email at disastercustomerservice@sba.gov.