RSS feed source: Federal Emergency Management Agency
AUSTIN – Low-interest disaster loans from the U.S. Small Business Administration are available to Texas residents, businesses of all sizes and nonprofit organizations that are recovering from the severe storms and flooding that occurred March 26-28, 2025.
Residents and businesses in Cameron, Hidalgo, Starr, and Willacy counties may now apply if they had damage in the March storms.
FEMA partners with other agencies to help meet the needs of disaster survivors. Disaster loans are the largest source of federal recovery funds for storm survivors. They help private property owners pay for disaster losses not covered by insurance, local or state programs. SBA loans also cover deductibles and increased cost of compliance after a disaster. Survivors should not wait for an insurance settlement before submitting an SBA loan application.
Interest rates on disaster loans can be as low as 2.75% for homeowners and renters, 3.62% for private nonprofit organizations and 4% for businesses, with terms up to 30 years for physical damage to real estate, inventory, supplies, machinery and equipment. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Survivors are not required to begin repaying the loan and the interest does not begin to accumulate for 12 months from the date the first disaster loan disbursement is awarded.
Homeowners may be eligible for a disaster loan of up to $500,000
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