The U.S. Small Business Administration (SBA) announced the offer of low interest federal disaster loans to small businesses and private nonprofit organizations in Texas. These loans are for those who experienced economic losses due to heat and winds from June 1 to December 31, 2024.
The relief measures extend to the Texas counties of Andrews, Armstrong, Austin, among others, and also includes Lea County in New Mexico and Beckham, Ellis, and Roger Mills counties in Oklahoma.
Under this disaster declaration, the SBA's Economic Injury Disaster Loan (EIDL) program is available for small businesses, small agricultural cooperatives, nurseries, and PNPs with direct financial loss from the disaster. Notably, agricultural producers, farmers, or ranchers are not eligible unless they are small aquaculture enterprises.
EIDLs support working capital needs due to the disaster. These loans can assist in payments for fixed debts, payroll, and other financial obligations not settled because of the disaster.
“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” stated Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”
Loan amounts may reach up to $2 million with interest rates starting at 4% for small businesses and 3.25% for PNPs, with repayment terms extending to 30 years. Interest does not accrue, and payments are deferred until 12 months after the initial loan disbursement. Loan amounts and terms are determined based on the financial condition of each applicant.
For online applications, visit sba.gov/disaster. Alternatively, applicants may contact SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov. Individuals who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 for telecommunications relay services.
The deadline for submitting completed loan applications is December 11, 2025.
###