SBA Amends Disaster Declaration for Texas Disaster Assistance Now Available to Private Nonprofit Organizations in Chambers County
SBA Amends Disaster Declaration for Texas
Disaster Assistance Now Available to Private Nonprofit Organizations in Chambers
SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to certain private nonprofit organizations in Chambers County following the amendment to President Biden’s Aug. 21, major disaster declaration for Public Assistance as a result of Hurricane Beryl that occurred July 5 - 9, announced Administrator Isabella Casillas Guzman of the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.
These low-interest federal disaster loans are available in Angelina, Austin, Brazoria, Calhoun, Chambers, Colorado, Fort Bend, Galveston, Hardin, Harris, Jackson, Jasper, Liberty, Matagorda, Montgomery, Nacogdoches, Newton, Polk, Sabine, San Augustine, San Jacinto, Shelby, Trinity, Tyler, Walker, Waller, Washington and Wharton counties.
“Private nonprofit organizations should contact the Texas Division of Emergency Management Recovery Division by emailing TDEMPARecovery@tdem.
SBA may lend private nonprofits up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize disaster damage from occurring in the future.
For certain private nonprofit organizations of any size, SBA also offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the private nonprofit suffered any property damage.
The interest rate is 3.25 percent with terms up to 30 years. The deadline to apply for property damage is Oct. 21, 2024. The deadline to apply for economic injury is May 21, 2025.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.
