RSS feed source: Federal Emergency Management Agency
AUSTIN, Texas – Long-term, low-interest disaster loans from the U.S. Small Business Administration are available to survivors, businesses and nonprofit organizations that are recovering from the July 2—18 storms and flooding in Central Texas.
Individuals and businesses that suffered losses in Burnet, Guadalupe, Kerr, Kimble, McCulloch, Menard, San Saba, Tom Green, Travis and Williamson counties may apply for an SBA loan.
The SBA also identified 27 contiguous counties where eligible residents, nonresidents and businesses that may have been affected by the storms may also apply for disaster loans. Those counties are Bandera, Bastrop, Bell, Blanco, Brown, Caldwell, Coke, Concho, Edwards, Gillespie, Hays, Irion, Kendall, Kimble, Lampasas, Lee, Llano, Mason, McCulloch, Menard, Milam, Mills, Reagan, Real, Runnels, Schleicher and Sterling.
FEMA partners with other agencies to help meet the needs of disaster survivors. SBA 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. Terms can reach up to 30 years for physical damage to real estate, inventory, supplies, machinery
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