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Homeowners, renters, businesses and private nonprofits affected by severe storms and tornadoes in August can now apply for federal disaster loans, including assistance available at a San Antonio library.
The U.S. Small Business Administration approved a disaster declaration covering eight South-Central Texas counties, including Bexar County. The declaration follows severe weather on Aug. 28 and a request from Gov. Greg Abbott.
The SBA offers low-interest loans to help eligible applicants repair storm damage and cover certain financial losses.
Businesses and private nonprofit organizations can apply for physical disaster loans of up to $2 million to repair or replace damaged real estate, machinery, equipment, inventory and other business assets.
Homeowners can apply for up to $500,000 to repair or replace their primary residence. Homeowners and renters may also qualify for loans of up to $100,000 to replace or repair personal property, including furniture, clothing, vehicles and appliances.
Eligible small businesses and private nonprofits may also apply for Economic Injury Disaster Loans. The program can provide working capital for expenses such as payroll, fixed debts and other bills, even if a business or nonprofit did not sustain physical damage.
Interest rates are as low as 3% for homeowners and renters, 3.625% for nonprofits and 4% for businesses. Loan terms can extend up to 30 years. Interest does not begin accruing, and payments are not due until 12 months after the first loan disbursement.
SBA representatives are available in San Antonio at a Disaster Loan Outreach Center at Las Palmas Library, at 515 Castroville Road. The center provides assistance with the application process, helps residents and business owners complete applications, and answers questions about disaster loan programs.
The center's hours are 10 a.m. to 6 p.m. on Monday, Wednesday, Thursday, Friday and from noon to 8 p.m. on Tuesdays.
Walk-ins are welcome. Applicants can also schedule an in-person appointment through the SBA's appointment system at their website.
People can apply online, find additional disaster assistance information and download applications.
Applicants may also call the SBA's Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov.
Completed paper applications can be mailed to:
U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road
Fort Worth, TX 76155
The federal disaster declaration covers Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina and Wilson counties.
The SBA determines eligibility, loan amounts and repayment terms based on each applicant's financial condition.
