The loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by the storm, said Tanya Garfield, director of the SBA’s Disaster Field Operations Center-West, in a May 5 press release.
The dollar amount and interest rate for the economic injury loan varies depending on each applicant's individual circumstances, according to the release.
“SBA’s mission-driven team stands ready to help Texas’ small businesses and residents impacted by the severe storms and tornadoes,” SBA Administrator Isabella Casillas Guzman said in the release. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”
The SBA opened a Disaster Loan Outreach Center in Williamson County to answer residents' questions, explain the application process and aid them with completing the application, Garfield said. The center—which first opened May 9—is located at Wayfinders Church, 508 N. 5th St., Jarrell, and is open Monday-Friday from 9 a.m.-6 p.m.
In addition to Williamson County, SBA assistance is also available to those in 41 other Texas counties, according to the release.
The application and additional information can be found online here. The deadline to apply for property damage is July 5, 2022, and the deadline to apply for the economic injury loan is Feb. 6, 2023.
For more information, applicants may also call the SBA customer service center at 800-659-2955 or email [email protected].
