The U.S. Small Business Administration (SBA) has announced the opening of a Business Recovery Center in Cameron County to support small businesses, private nonprofit organizations, and residents affected by severe storms and flooding from March 26-28. Starting Thursday, May 29, SBA customer service representatives will be available at the Harlingen Chamber of Commerce to assist with disaster loan applications. Walk-ins are welcome, though appointments can also be scheduled at appointment.sba.gov.
Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA, stated: "SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster." He emphasized that business owners could meet specialists who will guide them through the application process and connect them with recovery resources.
Eligible businesses and nonprofits may apply for physical disaster loans up to $2 million for repairing or replacing damaged real estate and other assets. Homeowners can apply for loans up to $500,000 for primary residence repairs, while renters can borrow up to $100,000 for personal property replacement. Additionally, applicants might qualify for a loan increase of up to 20% of verified physical damages for mitigation improvements like insulating pipes or installing storm windows.
The Economic Injury Disaster Loan (EIDL) program is also available for small businesses and nonprofits impacted financially by these disasters. These loans address working capital needs caused by the disaster even if no physical damage occurred.
Interest rates start as low as 4% for small businesses, 3.62% for nonprofits, and 2.75% for homeowners and renters with terms extending up to 30 years. Payments are deferred until one year after the first loan disbursement.
Applications can be submitted online at sba.gov/disaster or by contacting SBA's Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. The deadline for returning physical damage applications is July 21, 2025; economic injury applications are due by February 23, 2026.