SBA offers low-interest loans to repair January storm damage

The federal Small Business Administration has set up a disaster center this week at the Orange County Expo Center to help businesses, homeowners, and renters affected by the January 24 tornadoes and thunderstorms apply for low-interest loans.

Texas Governor Greg Abbott declared several Southeast Texas counties, including Orange County, as a disaster area because of the strong storms and tornadoes on that date. The National Weather Service reported Orange County had two tornadoes, including an F-2 that traveled 26 miles across the county into Louisiana.

The SBA office opened on Monday and will remain open Wednesday, March 29; Thursday, March 30; Friday, March 31; and Saturday April 1. The hours are 8 a.m. to 6 p.m. on the week days and 11 a.m. to 5 p.m. on Saturday. The Expo Center is on FM 1442 south of Interstate 10.

The low-interest loans are available for people who had losses not covered by insurance or FEMA reimbursements for damage suffered in the storms. The loans may also be used to help prevent future damage from storms.

Businesses and individuals may borrow up to $2 million for real estate, machinery, equipment, or inventory damaged by the storms.