The U.S. Small Business Administration (SBA) has announced the opening of Disaster Loan Outreach Centers (DLOCs) in Starr and Willacy counties to support small businesses, private nonprofit organizations, and residents affected by severe storms and flooding from March 26-28.
Starting Monday, July 14, SBA customer service representatives will be available at the DLOCs in Rio Grande City and Sebastian to provide assistance with disaster loan applications. No appointment is necessary, but those preferring to schedule can do so online.
The centers will operate as follows:
In Starr County at the Starr County Courthouse Annex, 100 N. FM 3167, Rio Grande City, TX 78582, open Mondays through Fridays from 8 a.m. to 5 p.m.
In Willacy County at the Sebastian Community Center, 434 W. Eighth St., Sebastian, TX 78594, also open Mondays through Fridays from 8 a.m. to 5 p.m.
Additional Business Recovery Centers remain operational in Cameron County at the Harlingen Chamber of Commerce and in Hidalgo County at the Valley Metro Transit Center Boardroom.
“When disasters strike, SBA’s Disaster Loan Outreach Centers perform an important role by assisting small businesses and their communities,” said Chris Stallings of the SBA. “At these centers, our SBA specialists help business owners and residents apply for disaster loans and learn about the full range of programs available to support their recovery.”
Eligible businesses and nonprofits can apply for physical disaster loans up to $2 million for repairs or replacements. Homeowners may borrow up to $500,000 for primary residence repairs while renters can apply for up to $100,000 for personal property replacement.
Loan increases up to 20% are possible for mitigation purposes like insulating pipes or installing storm windows.
The Economic Injury Disaster Loan (EIDL) program is also available for small businesses impacted financially by these disasters but does not cover agricultural producers except aquaculture enterprises.
Interest rates are set as low as 4% for small businesses and extend up to 30 years with payments deferred until a year after disbursement.
Applications can be submitted online via sba.gov/disaster or through SBA’s Customer Service Center. The deadline for physical damage applications is July 22, while economic injury applications must be returned by February 23 next year.
###
SBA opens centers in Texas following severe storms