On Sep. 13, SBA federal disaster loans available to Texas businesses.
SBA reported availability of economic injury disaster loans (EIDLs) Texas small businesses suffering economic losses due to drought beginning on Jul. 11, 2023.
EIDL Loan Eligibility
Small nonfarm businesses in primary TX counties of Collin, Panola, Rusk, and Smith;
Neighboring TX: Cherokee, Dallas, Denton, Fannin, Grayson, Gregg, Harrison, Henderson, Hunt, Nacogdoches, Rockwall, Shelby, Upshur, Van Zandt, and Wood.
Also available to the neighboring Louisiana parishes of Caddo and DeSoto.
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 6, 2024.
Regulators
SBA
Entity Types
Bank
Reference
PR, TX 18164-01, 9/13/2023;
Functions
Actuarial and Valuation; BCS; Financial; Operations; Risk
