SBA low-interest loans available for those affected by storm

SBA low-interest loans available for those affected by storm


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.
Interest rates can be as low as 3 percent for businesses, 2 percent for private nonprofit organizations and 1.25 percent 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.
From an SBA news release...
Low-interest federal disaster loans are now available to Texas businesses and residents as a result of President Biden’s major disaster declaration, U.S. Small Business Administration’s acting Administrator Tami L. Perriello announced.

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