7-11-20 Small Business Loan Application.TIF

SACRAMENTO, Calif. – Small non-farm businesses in the following counties are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration.

Declaration number 16527 for excessive moisture is for primary counties Bowie, Franklin and Red River and neighboring counties Camp, Cass, Delta, Hopkins, Lamar, Morris, Titus and Wood in Texas; Little River and Miller in Arkansas; and Choctaw and McCurtain in Oklahoma.

Incident Date: Beginning Oct. 1, 2019

Deadline: March 2, 2021

Declaration number 16528 for freeze is for Clay County and neighboring counties Archer, Jack, Montague and Wichita in Texas; and Cotton and Jefferson in Oklahoma.

Incident Date: April 15, 2020

Deadline: March 2, 2021

Declaration Number 16529 for excessive rain and flooding is for Collin County and neighboring counties Dallas, Denton, Fannin, Grayson, Hunt and Rockwall in Texas.

Incident Date: Beginning Oct. 1, 2019

Deadline: March 2, 2021

Declaration Number 16530 for excessive rain is for Ellis County and neighboring counties Dallas, Henderson, Hill, Johnson, Kaufman, Navarro and Tarrant in Texas

Incident Date: March 1 through April 30, 2020

Deadline: March 2, 2021

These loans offset economic losses because of reduced revenues caused by adverse weather conditions that occurred in the following primary counties in Texas, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disasters and businesses directly impacted by the disasters,” Garfield said.

Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture 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 which could have been met had the disasters not occurred.

“Eligibility for these loans is based on the financial impact of the disasters only and not on any actual property damage. These loans have an interest rate as low as 3.75% for businesses and 2.75% for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes economic injury available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared these declarations on July 2, 2020.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration.

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 disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

About the U.S. Small Business Administration: The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

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