Small non-farm businesses in 107 Texas counties and neighboring counties in New Mexico and Oklahoma are now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration, Director Tanya N. Garfield announced. from the SBA-West Disaster Field Operations Center.
These loans offset economic losses due to reduced revenues caused by the drought in the following major counties that began on November 1, 2021.
Major Texas Counties: Hays, Throckmorton, Titus, Tom Green, Trinity, Upshur, Upton, Uvalde, Val Verde, Van Zandt, Ward, Webb, Wheeler, Wichita, Wilbarger, Wilson, Winkler, Wise, Wood, Yoakum, Young, Zapata and Zavala;
Neighboring Texas counties: Andrews, Angelina, Archer, Atascosa, Bandera, Baylor, Bexar, Blanco, Caldwell, Camp, Clay, Cochran, Coke, Collingsworth, Comal, Concho, Cooke, Crane, Crockett, Denton, Dimmit, Donley, Duval , Ector, Edwards, Foard, Franklin, Frio, Gaines, Glasscock, Gonzales, Gray, Gregg, Guadalupe, Hardeman, Harrison, Haskell, Hemphill, Henderson, Hockley, Hopkins, Houston, Hunt, Irion, Jack, Jim Hogg, Karnes, Kaufman, Kinney, Knox, La Salle, Loving, Marion, Maverick, McMullen, Medina, Menard, Midland, Montague, Morris, Palo Pinto, Parker, Pecos, Polk, Rains, Reagan, Real, Red River, Reeves, Roberts, Runnels , San Jacinto, Schleicher, Shackelford, Smith, Starr, Stephens, Sterling, Sutton, Tarrant, Terrell, Terry, Travis, and Walker;
Neighboring New Mexico County: Lea;
Neighboring Oklahoma counties: Beckham, Cotton, Jackson, Roger Mills, Tillman.
“SBA eligibility covers both economic impacts on businesses that depend on farmers and ranchers who suffered agricultural production losses caused by the disaster as well as businesses directly affected by the disaster,” Garfield said.
Small non-farm businesses, small agricultural cooperatives, small aquaculture businesses, and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses that could have been covered had the disaster not occurred. It occurred.
“Eligibility for these loans is based solely on the financial impact of the disaster and not on any actual property damage. These loans carry an interest rate of 2.83 percent for businesses and 1.875 percent for private nonprofits, have a maximum term of 30 years, and are available to small businesses and most private nonprofits. profit without the financial capacity to offset the adverse impact without hardship,” Garfield said. .
By law, the SBA offers Economic Injury Disaster Loans when the US Secretary of Agriculture designates an agricultural disaster. The secretary declared this disaster on April 22.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Farm businesses should contact the Farm Service Agency about US Department of Agriculture assistance available through the secretary’s statement. However, day care centers are eligible for SBA disaster assistance in the event of a drought.
Applicants can apply online, receive additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/. Applicants can also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information about SBA disaster assistance. People who are deaf, hard of hearing or have speech difficulties should dial 711 to access telecommunications relay services. Completed applications should be mailed to the US Small Business Administration Disbursement and Processing Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for economic damages is December 22, 2022.