The declaration covers the Texas counties of: Brazoria, Chambers, Fort Bend, Galveston, Harris, Jackson, Jasper, Jefferson, Liberty, Matagorda, Montgomery, Nacogdoches, Orange, Polk, San Jacinto, Walker, Wharton as a result of Hurricane Beryl that occurred July 5 through July 9, 2024.
This is a Limited Opportunity for Recovery
Deadline to apply for physical damage is September 10, 2024
Deadline to apply for Economic Injury is April 14, 2025
*No requirement to accept an approved loan. An approval would be an option for rebuilding and recovery.
KEY INFORMATION:
Loan Amounts: Businesses can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, supplies, machinery, and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
Homeowners can access up to $500,000 to repair or replace damaged real estate and homeowners and renters can access up to $100,000 for damaged personal property, including vehicles.
Economic Injury Assistance: SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster, regardless of whether there was property damage.
- economic injury only in the contiguous Texas counties of: Angelina, Austin, Calhoun, Cherokee, Colorado, Grimes, Hardin, Houston, Lavaca, Madison, Newton, Rusk, Sabine, San Augustine, Shelby, Trinity, Tyler, Victoria, Waller;
- economic injury only in the contiguous Louisiana counties of: Calcasieu & Cameron;
LOAN TERMS:
Interest Rates: Interest rates are as low as 4 percent for businesses, 3.250 percent for private nonprofit organizations, and 2.688 percent for homeowners and renters. Loan terms can extend up to 30 years.
Grace Period: Interest does not begin to accrue until 12 months from the date of the first loan disbursement, with loan repayment commencing 12 months after the first disbursement.
Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Survivors may apply online and receive additional disaster assistance information at https://lending.sba.gov. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
In addition, SBA customer service representatives are available to meet with applicants at the following locations. No appointment is necessary. All services are provided free of charge.
Nacogdoches County
Nacogdoches Expo and Civic Center
3805 NW Stallings Dr.
Nacogdoches, TX 75964
The centers operate from 8 a.m. to 6 p.m. Monday – Saturday, closed Sunday. Any center can help with both Hurricane Beryl and the April 26-June 5 storms and flooding.
Please share this information with anyone you feel is appropriate. I am also available for any informational or media appointments.
Please reach out should you have any questions.
Raenada Mason
Public Information Officer
Office of Disaster Recovery and Resilience
Field Operations Center - West
U.S. Small Business Administration
Cell Phone: 571-455-3867
