Loans with low interest are now being offered for numerous East Texas counties affected by recent natural disasters, made available by the U.S. Small Business Administration (SBA). These loans will be for small businesses, nonprofits, and residents who suffered physical damage and economic loss from the recent storms, straight-line winds, and tornadoes that happened on April 4. The SBA issued a disaster declaration in response to a request received from Texas Governor Greg Abbott on April 17.
The disaster declaration covers the Texas counties of Bowie, Camp, Cass, Marion, Morris, Red River, Titus, and Upshur.
Businesses and nonprofits eligible can apply for ‘business physical disaster loans’ and can borrow up to $2-million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, or other business assets.
