The Small Business Administration (SBA) Office of Disaster Assistance (ODA) is offering Disaster Assistance to Texas Businesses and Residents in Dallas County and the Contiguous Counties of Collin, Denton, Ellis, Kaufman, Rockwall & Tarrant that were affected by Severe Storms and Flooding that occurred Aug. 22-23, 2022, and has been declared an Agency Disaster by Governor Greg Abbott on September 13, 2022.
The deadline for physical damage is November 14, 2022 and for the Economic Injury Disaster Loan (EIDL) the deadline is June 14, 2023.
We encourage people to complete the SBA application even if they are not sure if they need it yet. If approved the loan becomes an option.
Property Damage: up to $2,000,000 to repair or replace real estate, machinery and equipment, inventory and other assets that were damaged or destroyed (available to businesses of any size and private, non-profit organizations).
Economic Injury: for businesses and private non-profit organizations suffering adverse financial impacts of the disaster (with or without property loss), up to $2,000,000 for working capital to help pay obligations until normal operations resume.
Individuals and Families
Homeowners: up to $200,000 to repair or replace real estate damage and up to $40,000 to replace personal property.
Renters: up to $40,000 to repair or replace personal property.
Interest rates can be as low as 3.040 percent for businesses, 1.875 percent for private nonprofit organizations and 2.188 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
There is also Mitigation assistance (sba.gov) for eligible SBA disaster loan borrowers who may choose to receive expanded funding to help mitigate their home or business against future disasters.
Resource Partners Information in English:
U.S. Small Business Administration’s Texas Resource Partners Offer the Following Services to Help Businesses Recover from the Effects of Severe Storms and Flooding Texas:
Resource Partners Information in Spanish:
Los socios en Texas de la Administración Federal de Pequeños Negocios Ofrecen los Siguientes Servicios para Ayudar a los Negocios a Recuperarse de los Efectos de las Tormentas Severas e Inundaciones:
City Secretary | Susan Coffer
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