The U.S. Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for small businesses, private nonprofits, and renters in Fort Worth affected by the Cooper Apartment Complex Fire on June 23. This announcement follows a disaster declaration issued after a request from Governor Greg Abbott on July 16.
The declaration applies to the Texas counties of Dallas, Denton, Ellis, Johnson, Parker, Tarrant, and Wise. Eligible businesses and nonprofits can apply for business physical disaster loans up to $2 million to repair or replace damaged real estate and assets. Homeowners and renters may borrow up to $100,000 for personal property repairs and up to $500,000 for primary residence repairs.
Applicants might qualify for a loan increase of up to 20% of their verified physical damages for mitigation improvements such as insulating pipes or installing storm windows.
The SBA’s Economic Injury Disaster Loan (EIDL) program is available for eligible small businesses and private nonprofit organizations that have suffered financial losses due to the disaster. These loans cover working capital needs like fixed debts and payroll.
Interest rates are set at 4% for businesses, 3.625% for nonprofits, and 2.813% for homeowners and renters with terms extending up to 30 years. Payments begin 12 months after the first loan disbursement.
Chris Stallings from the SBA stated: “When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover.”
Starting July 21, SBA customer service representatives will be available at the Disaster Loan Outreach Center located at One Safe Place in Fort Worth to assist with applications. The center operates Monday through Friday from 9 a.m. to 6 p.m.
Applications can also be submitted online at sba.gov/disaster or by contacting SBA’s Customer Service Center. The deadline for physical damage applications is September 15, 2025; economic injury applications are due by April 17, 2026.