On Sep. 14, SBA federal disaster loans available to TX businesses.
SBA reported availability of economic injury disaster loans (EIDLs) to Texas small businesses suffering economic losses due to drought beginning on Sep. 5, 2023.
EIDL Loan Eligibility
Small nonfarm businesses are eligible to apply for SBA low interest federal disaster loans in the primary TX counties of Brewster, Culberson, El Paso, Ellis, Freestone, Harrison, Henderson, Jeff Davis, Loving, Navarro, Presidio and Reeves.
Also available in neighboring TX counties of Anderson, Cherokee, Dallas, Gregg, Hill, Hudspeth, Johnson, Kaufman, Leon, Limestone, Marion, Panola, and Pecos.
Further, available in TX counties of Rusk, Smith, Tarrant, Terrell, Upshur, Van Zandt, Ward, Winkler; LA parish Caddo; NM counties Dona Ana, Eddy, Lea, Otero.
Disaster Assistance
Covers both the economic impact that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, private nonprofit s may qualify for EIDL Loans of up to $2 million.
Eligibility based on financial impact only and not on actual property damage.
Businesses primarily engaged in farming or ranching not eligible for SBA assistance.
Application Deadline
The EIDL loan application deadline for drought victims is May 13, 2024.
Regulators
SBA
Entity Types
Bank; CNSM
Reference
PR TX 18170-01, 9/14/2023
Functions
Actuarial and Valuation; BCS; Financial; Operations
