Low-interest federal disaster loans are available to Texas residents and business owners affected by the tornadoes, hail and severe weather on April 3, 2012, U. S. Small Business Administration (SBA) Administrator Karen G. Mills announced today. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Rick Perry on April 13.

The disaster declaration makes SBA assistance available in the primary Texas counties of Dallas, Kaufman and Tarrant; and the neighboring counties of Collin, Denton, Ellis, Henderson, Hunt, Johnson, Parker, Rockwall, Van Zandt and Wise.

"The U. S. Small Business Administration is strongly committed to providing Texans with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the tornadoes and severe weather," said Mills. "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."

"Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by this disaster," said SBA's Dallas/Ft. Worth District Director Herbert Austin. "Beginning Wednesday, April 18 at 12 pm, SBA representatives will be on hand at the following Disaster Loan Outreach Centers to issue loan applications, answer questions about SBA's disaster loan program, explain the application process and help each individual complete their application," Austin continued. The centers will be open on the days and times indicated until further notice. No appointment is necessary.

Dallas County
Regions Bank Building
1425 North Dallas Avenue
Lancaster, TX 75134
Opens Wednesday, April 18 at 12 pm
Mondays through Fridays
8 am to 4:30 pm

Kaufman County
Forney Police Department
110 Justice Center Drive
Forney, TX 75126
Opens Wednesday, April 18 at 12 pm
Mondays through Fridays
8 am to 4:30 pm

Tarrant County
Kennedale Chamber of Commerce
205 W. Kennedale Parkway (in Town Center)
Kennedale, TX 76060
Opens Wednesday, April 18 at 12 pm
Mondays through Fridays
9 am to 4:30 pm

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses of any size 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 homeowners and businesses to help with the cost of making improvements that 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 (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates can be as low as 1.875 percent for homeowners and renters, 3 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant's financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA's Customer Service Center by calling (800) 659-2955, e-mailing [email protected] or visiting SBA's Web site athttp://www.sba.gov/services/disasterassistance. Individuals who are deaf or hard-of-hearing may call 1-800-877-8339.

The filing deadline to return applications for property damage is June 18, 2012. The deadline to return economic injury applications is January 17, 2013.

For more information, visit SBA's Web site at www.sba.gov.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841

Read the U.S. Small Business Administration Fact Sheet - Disaster Loans