The U.S. Small Business Administration (SBA) issued a disaster declaration at the request of Governor Abbot. This declaration will make low-interest federal disaster loans available to businesses and residents affected by the storms that came through our area on October 20, 2019.
SBA representatives will be on hand at the following Disaster Loan Outreach Center to answer questions about SBA's disaster loan program, explain the application process and help each individual complete their application.
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
These are low-interest loans which can be as low as 3.875% for businesses, 2.75% for private nonprofit organizations and 1.5% 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.
The center, located at the Bachman Lake Branch Library—9480 Webb Chapel Road, will open at 9 a.m. on Monday, November 18, 2019 and remain open until further notice. No appointment is necessary.
Disaster Loan Outreach Center Location:
Bachman Lake Branch Library
9480 Webb Chapel Road
Dallas, TX 75220
Mondays – Fridays, 9 a.m. - 6 p.m.
Closed for Thanksgiving Holiday on Thursday and Friday, Nov. 28-29
Download the PDF - TX_16186_Fact_Sheet_Agency.pdf
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