SBA Relief Still Available to Texas Businesses, Private Nonprofits and Residents Affected by the Spr

WASHINGTON — The U.S. Small Business Administration (SBA) is reminding eligible
businesses, private nonprofits, and residents in Texas of the Nov. 10 deadline to apply for low
interest federal disaster loans to offset physical damage caused by the Spring Branch
Apartment Complex Fire occurring Aug. 19-20.
The disaster declaration covers the Texas counties of Brazoria, Chambers, Fort Bend,
Galveston, Harris, Liberty, Montgomery and Waller.
Businesses and nonprofits are eligible to apply for business physical disaster loans and may
borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate,
machinery and equipment, inventory, and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may
borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars,
and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary
residence.
Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as
verified by the SBA, for mitigation purposes. Eligible mitigation improvements include
strengthening structures to protect against high wind damage, upgrading to wind rated
garage doors, and installing a safe room or storm shelter to help protect property and
occupants from future damage.
“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades
reducing the risk of future damage,” said Chris Stallings, associate administrator of the Office
of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to
work with contractors and mitigation professionals to improve their disaster readiness while
taking advantage of SBA’s physical damage loans.”
SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses,
small agricultural cooperatives, nurseries and private nonprofit (PNP) organizations including
faith-based organizations impacted by financial losses directly related to this disaster. The
SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except
for aquaculture enterprises.

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Interest rates can be as low as 4% for businesses, 3.625% for nonprofits, and 3% for
homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and
payments are not due until 12 months from the date of the first loan disbursement. The SBA
sets loan amounts and terms, based on each applicant’s financial condition.
To apply online, visit sba.gov/disaster. 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. For people who are deaf, hard of hearing, or have a speech disability,
please dial 7-1-1 to access telecommunications relay services.
The filing deadline to submit applications for physical damage is Nov. 10. However, after the
deadline has passed, there is a 60-day grace period in which SBA will accept applications.

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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business
ownership. 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, 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.