SBA hurricane loans now a spin for companies, property owners, tenants

SBA hurricane loans now a spin for companies, property owners, tenants

HARLINGEN — Gov. Greg Abbott announced throughout the week-end that their ask for an Economic Injury Disaster Declaration for six counties struck by Hurricane Hanna happens to be authorized.

Your decision opens the gate for neighborhood non-farm small businesses, personal nonprofits, homeowners and renters in Cameron, Hidalgo, Willacy, Starr, Brooks and Kenedy counties to utilize for business Administration long-term, low-interest loans.

“Texas thanks the U.S. Small Business management for supplying this financial lifeline to qualifying small enterprises when you look at the Rio Grande Valley while they continue steadily to rebuild from Hurricane Hanna,” Abbott stated. “We will work alongside our partners that are federal make sure Texans have the resources and help they have to cure this storm.”

Who qualifies for these catastrophe funds?

Home owners can buy loans as high as $200,000 to fix or change property harm and $40,000 to restore property that is personal. Tenants can receive as much as $40,000 to fix or change individual home since well.

Companies can receive as much as $2 million to correct or replace real-estate, equipment and gear, stock along with other assets damaged or damaged. These loans can be found to any or all companies of every size, along with personal, nonprofit companies.

Economy damage loans are merely open to businesses that are small many nonprofit organizations that are enduring unfavorable monetary effects from hurricane harm. Continue reading “SBA hurricane loans now a spin for companies, property owners, tenants”