SBA Disaster Relief Loans
SBA Stands Ready to Assist Texas Businesses and Residents Affected by Hurricane Harvey.
Low-interest federal disaster loans are now available to Texas businesses, nonprofit organizations, and residents.
SBA FAQ for Disaster Relief Loans
How do I file for disaster loans?
First - contact FEMA at their website: www.DisasterAssistance.gov or call at 1.800.621.3362 from 7am to 10pm, seven days a week.
Second - File for an SBA disaster loan at https://disasterloan.sba.gov/ela/ or call at 1.800.659.2955. Click here for the Disaster Playbook to see the detailed process.
- Homeowner and renter loans up to $240K ($200K property + $40K contents). Interest rates are between 1.75% and 3.5%.
- Businesses of any size and non-profit organizations can apply for property damage loans up to $2M. Small Businesses can apply for Economic Injury loans that provide up to $2M of working capital to generally assist with recovery. Business loan interest raste are between 3.305% and 6.601%.
- Non-profit interest rates are 2.5%.
How long does it take to get disaster money?
It varies widely for each case depending on many factors. It is best to be conservative and assume 30-60 days.
As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants.