Flooded in August? Now is the time to apply for SBA disaster loans – NBC 5 Dallas-Fort Worth

The United States Small Business Administration issued a disaster declaration for Dallas and surrounding counties following severe storms and flooding in August.

Governor Greg Abbott signed a disaster declaration for 23 counties after near-record flooding. Now businesses in North Texas affected by the August 22-25 storms can apply for low-interest loans to help with the recovery.

For businesses and nonprofits, there are two options. One loan covers physical damage (such as real estate, equipment, or inventory), the other covers economic damage (help pay obligations until normal operations resume) and the maximum is $2 million. dollars.

“They can recoup their losses with this working capital loan, so that’s why we’re accommodating that because if your business was shut down during this time or whatever suffered, they can get it,” said Barbara Nitis of the SBA office. Disaster assistance.

Loans are not just for small businesses. There are also aids for landlords and tenants.

Homeowners can claim up to $200,000 to repair and replace property damage and up to $40,000 to replace personal property. Tenants can claim up to $40,000 to repair or replace personal property.

Beginning Sept. 19, the SBA will open two Disaster Loan Awareness Centers in Dallas County, one at the Samuell-Grand Recreation Center and the other at the Balch Springs Recreation Department.

Samuell-Grand Leisure Center
6200 Grand Est Ave.
Dallas, Texas 75223
Monday to Friday, 9 a.m. to 6 p.m.

Balch Springs Recreation Department
4372 shepherds alley
Balch Springs, Texas 75180
Monday to Friday, 9 a.m. to 6 p.m.

Deadline for Physical Damage is November 14, 2022. Deadline for Economic Disaster Loan is June 14, 2023.

Applicants can apply online, receive additional information about disaster assistance, and upload applications at https://disasterloanassistance.sba.gov/. Applicants may also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information about SBA disaster assistance. People who are deaf or hard of hearing can call (800) 877-8339.