SBA disaster loan deadlines approaching

Published on November 03, 2022

Low-interest federal disaster loans are available to Texas businesses and residents as a result of the severe storms and flooding that hit the area Aug. 22-25.

The disaster declaration covers Dallas County and the contiguous counties of Collin, Denton, Ellis, Kaufman, Rockwall and Tarrant.

The deadline for physical damage is Nov. 14. For economic injury disaster loans, the deadline is June 14, 2023.

Affected residents are encouraged to complete the SBA application even if they are not sure if they need it yet. If approved, the loan becomes an option.

Interest rates can be as low as 3.040% for businesses, 1.875% for private nonprofit organizations and 2.188% 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. https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email.

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