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New Federal Disaster Loan Available for Texas Businesses

“We know that these past weeks have been challenging for far too many Texans… I want to reassure the people of Texas that we are using every tool at our disposal to help those in need. We have overcome challenges in the past, and we will overcome this challenge together.” – Governor Greg Abbott

Dear Fellow Texans and Small Business Owners,

This historic winter storm, unlike anything experienced to date, has brought new challenges to our residents and small businesses. We would like to make you aware of new federal disaster assistance available through the U.S. Small Business Administration (SBA). If your business was impacted by the recent severe winter storms and is located in a declared disaster area, you may be eligible for a low-interest federal disaster loan through the SBA.

The SBA has published a fact sheet with more information on loan eligibility, specifics regarding interest rates and other loan details. To apply for a disaster assistance loan through the SBA, visit the SBA’s Disaster Loan Assistance website.

The SBA has also established two new resources to help address disaster loan questions. Starting February 23, 2021, The Virtual Business Recovery Center and The Virtual Disaster Loan Outreach Center may be reached Monday through Friday between 7 a.m. and 7 p.m. by calling (800) 659-2955 or emailing [email protected]

For individuals interested in all forms of disaster assistance, those affected must first contact the Federal Emergency Management Agency (FEMA). To determine if you are eligible to apply, visit the FEMA website to see if you are located in a disaster area. You may also review FEMA’s FAQs on the application process.

To get updates on any new information regarding these resources and other COVID-19 recovery resources through the SBA, please visit the SBA’s website.

Texans are resilient, and have experience recovering from weather emergencies by all working together. Thank you for all you do for the great state of Texas! And please remain #TexasBizStrong.

-Texas Economic Development & Tourism Office