SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Texas of the approaching deadline to apply for low-interest federal disaster loans. These loans aim to offset economic losses caused by adverse weather conditions in March and May 2024.

Eligible small businesses, small agricultural cooperatives, nurseries, and PNPs affected by these incidents can apply for EIDLs to cover working capital needs. Although the loans do not require physical damage to be eligible, they can help pay for fixed debts, payroll, accounts payable, and other bills that would have been covered if the disaster had not occurred.

The SBA offers loans of up to $2 million with interest rates of 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Payments are not due, and interest does not accrue until 12 months from the first loan disbursement. Loan amounts and terms are determined based on each applicant’s financial condition.

Applications should be submitted promptly, as they will be prioritized in the order received. To apply online and get additional disaster assistance information, visit sba.gov/disaster. For further assistance, applicants can call the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov.

Deaf, hard of hearing, or speech-disabled individuals can access telecommunications relay services by dialing 711.

Submit completed loan applications no later than March 10, 2025.

The U.S. Small Business Administration is dedicated to empowering American entrepreneurs and small business owners with the resources and support needed to start, grow, expand, or recover from a disaster. The SBA delivers services through an extensive network of field offices and partnerships with public and private organizations. To learn more, visit sba.gov.

Affected Counties

Under two disaster declarations, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible businesses and PNPs:

• Declaration Number: 20461
  • Primary Counties: Lampasas
  • Neighboring Counties: Bell, Burnet, Coryell, Hamilton, Mills, and San Saba
  • Incident Type: Flooding, Excessive Rain, and Flash Flood
  • Incident Date: May 4-5, 2024
  • Deadline: March 10, 2025

• Declaration Number: 20462
  • Primary Counties: Hunt
  • Neighboring Counties: Collin, Delta, Fannin, Hopkins, Kaufman, Rains, Rockwall, and Van Zandt
  • Incident Type: Flooding and Excessive Rain
  • Incident Date: Beginning March 11, 2024
  • Deadline: March 10, 2025