Tornado victims eligible for low-interest federal disaster loans

Richardson tornado
The Oct. 20 tornado affected 949 structures in Richardson. (Liesbeth Powers/Community Impact Newspaper)

The Oct. 20 tornado affected 949 structures in Richardson. (Liesbeth Powers/Community Impact Newspaper)

The U.S. Small Business Administration announced Nov. 14 that victims of the Oct. 20 tornado in Richardson are eligible to apply for low-interest, long-term federal disaster loans, according to information from the city of Richardson.

Representatives from the administration toured the disaster area in the days following the storm. On Nov. 18, a Disaster Loan Outreach Center opened at the Bachman Lake Branch Library in Dallas for people to apply for loans or meet with representatives who can answer questions and assist with the application process, according to city of Richardson officials.


Homeowners and renters can receive loans of between $200,000-$400,000 to assist with repairs and replacement of personal property not fully covered by insurance or other means. Eligible businesses and nonprofits could receive loans of up to $2 million, a city spokesperson said.

The loan center, located at 9840 Webb Chapel Road, Dallas, is open Monday through Friday from 9 a.m.-6 p.m. No appointment is necessary. The center will be closed Nov. 28-29 for Thanksgiving.

To apply online or for more information, visit this link.
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