The U.S. Small Business Administration (SBA) has issued a reminder to small businesses and private nonprofit organizations in Texas about the upcoming deadline to apply for federal disaster loans. These loans are intended to mitigate economic losses caused by excessive heat from June 1 to December 31, 2023. The deadline for applications is June 23, 2025.
The affected areas include Atascosa, Bee, Duval, Frio, Goliad, Jim Wells, Karnes, La Salle, Live Oak, McMullen, Refugio, San Patricio and Webb counties in Texas.
Under this disaster declaration, the SBA's Economic Injury Disaster Loan (EIDL) program is available to small businesses and private nonprofits that have suffered financial setbacks due to the heat. The program excludes agricultural producers unless they are small aquaculture enterprises.
These EIDLs provide working capital for businesses impacted by the disaster and can be used even if there was no physical damage. The funds may cover fixed debts, payroll expenses and other unpaid bills resulting from the disaster.
"SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster," stated Chris Stallings of the SBA's Office of Disaster Recovery and Resilience. "These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster."
Eligible applicants can receive up to $2 million with interest rates as low as 4% for small businesses and 2.37% for nonprofits over terms extending up to 30 years. Interest does not accrue until one year after the first loan disbursement.
Applications can be submitted online at sba.gov/disaster or through contact with SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. For those who require telecommunications relay services due to hearing or speech disabilities, dialing 7-1-1 will provide access.
Completed applications must be submitted by June 23.