Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center- West announced today that SBA has approved more than $1 million in federal disaster loans for Texas businesses and residents impacted by severe storms and tornadoes in Lamar and Morris counties that began Nov. 4, 2022. According to Garfield, SBA has approved $1,180,400 for businesses and residents to help rebuild and recover from this disaster.
These low-interest federal disaster loans are available in Bowie, Camp, Cass, Delta, Fannin, Franklin, Lamar, Marion, Morris, Red River, Titus and Upshur counties in Texas; and Bryan and Choctaw counties in Oklahoma.
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to help business and residents with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
