Were you or your small business affected by Hurricane Beryl?
Low-interest federal disaster loans are available to Texas businesses and residents affected by the hurricane. As a result of the disaster declaration, the Small Business Administration is providing assistance in the following counties:
PRIMARY COUNTIES: Brazoria, Chambers, Fort Bend, Galveston, Harris, Jackson, Jasper, Jefferson, Liberty, Matagorda, Montgomery, Nacogdoches, Orange, Polk, San Jacinto, Walker and Wharton counties.
CONTIGUOUS COUNTIES: Angelina, Austin, Calhoun, Cherokee, Colorado, Grimes, Hardin, Houston, Lavaca, Madison, Newton, Rusk, Sabine, San Augustine, Shelby, Trinity, Tyler, Victoria, and Waller.
What to Know
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property which includes their disaster damaged personal vehicles.
Interest rates can be as low as 4% for businesses, 3.25% for private nonprofit organizations and 2.688% for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants can apply online and receive additional disaster assistance information at www.sba.gov/disaster.
Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov
for more information on SBA disaster assistance.
For people who are deaf, hard of hearing, or have a speech disability, dial 7-1-1 to access telecommunications relay services.
The deadline for physical damage is Tuesday, Sept. 10, 2024. The deadline to apply for economic injury is Monday, April 14, 2025. Click here to apply.
SBA customer service representatives will be on hand at the following centers to answer questions about SBA’s disaster loan program, explain the application process and help each applicant complete their electronic loan application. No appointment is necessary!
HARRIS COUNTY – Business Recovery Center
University of Houston – Downtown
Marilyn Davies College of Business
320 North Main St. (Room B106, 1st Floor) – Houston, TX 77002
(Note: Parking is underneath the Marilyn Davies
College of Business in the Shea Street Building)
HOURS:
Mon.-Fri.: 9 a.m.-6:00pm CT | Sat.: 9 a.m.-4 p.m. CT
MONTGOMERY COUNTY – Business Recovery Center
East Montgomery County Improvement District
21575 US Highway 59, Suite #201 – New Caney, TX 77357
HOURS:
Mon.-Sat.: 8 a.m.-6 p.m. CT
As more Business Recovery Centers become available, they will be added to the original disaster declaration, which can be found here.
