SBA Disaster Loan Outreach Center in Orange to Close
District Director Tim Jeffcoat of the U.S. Small Business Administration’s (SBA) Houston District office announced today that SBA will close its Orange Disaster Loan Outreach Center in Newton County at 6 p.m., Thursday, June 9.
“SBA opened the center to provide personalized assistance to Texas businesses and residents who were affected by the severe storms, tornadoes and flooding that occurred March 7-29, 2016. Until the Orange center closes, SBA customer service representatives will continue to be available to meet with businesses and residents to answer all of their questions, explain SBA’s disaster loan program and close their approved disaster loans,” said Jeffcoat.
Businesses and residents can meet with SBA representatives on the days and times indicated below. No appointment is necessary.
SBA Disaster Loan Outreach Center
Newton County Senior Citizen Center
43435 State Highway 87 South
Orange, TX 77632
Tuesday – Thursday, 9 a.m. – 6 p.m.
Center closes at 6 p.m. Thursday, June 9.
Businesses of all sizes 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 improvements to 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.
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.
Interest rates can be as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations and 1.813 percent for homeowners and renters 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 website at https://disasterloan.sba.gov/
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.
The deadline to return economic injury applications is Dec. 19.