Trophy Club, TX (November 1, 2022) - The Small Business Administration (SBA) Office of Disaster Assistance (ODA) is offering Disaster Assistance to Texas Businesses and Residents in Dallas County and the Contiguous Counties of Collin, Denton, Ellis, Kaufman, Rockwall & Tarrant that were affected by Severe Storms and Flooding that occurred Aug. 22-23, 2022, and has been declared an Agency Disaster by Governor Greg Abbott on September 13, 2022.
Following is the informational Agency Declaration summary for the disaster assistance program. Please let me know if you would like me to provide outreach virtually to further discuss the disaster assistance Federal program by contacting me via email at [email protected] and by text -or- phone call at (571) 419-2497.
---Below is the Agency Declaration Summary---
The Agency Declaration covers Dallas County and the contiguous Texas counties of Collin, Denton, Ellis, Kaufman, Rockwall & Tarrant. Low-interest federal disaster loans are available to Texas businesses and residents as a result of the Severe Storms & Flooding that occurred August 22-25, 2022.
The deadline for physical damage is November 14, 2022, and for the Economic Injury Disaster Loan (EIDL), the deadline is June 14, 2023.
We encourage people to complete the SBA application even if they are not sure if they need it yet. If approved, the loan becomes an option.
- Property Damage: up to $2,000,000 to repair or replace real estate, machinery and equipment, inventory and other assets that were damaged or destroyed (available to businesses of any size and private, non-profit organizations).
- Economic Injury: for businesses and private non-profit organizations suffering adverse financial impacts of the disaster (with or without property loss), up to $2,000,000 for working capital to help pay obligations until normal operations resume.
Individuals and Families:
- Homeowners: up to $200,000 to repair or replace real estate damage and up to $40,000 to replace personal property.
- Renters: up to $40,000 to repair or replace personal property.
Interest rates can be as low as 3.040 percent for businesses, 1.875 percent for private nonprofit organizations and 2.188 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, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
There is also Mitigation assistance (sba.gov) for eligible SBA disaster loan borrowers who may choose to receive expanded funding to help mitigate their home or business against future disasters.
Resource Partners Information:
U.S. Small Business Administration’s Texas Resource Partners Offer the Following Services to Help Businesses Recover from the Effects of Severe Storms and Flooding Texas:
- Small Business Development Centers (SBDCs) are providing the following services to help small businesses impacted by the disaster (no charge for any services): • Counseling for financial, accounting, marketing and other post-disaster challenges • Management and technical assistance • Business planning to help business owners re-establish their operations and plan for their future • Help in reconstructing damaged or destroyed business records • Assistance with updating or rewriting business plans • Assistance with accessing government contracts and procurement related to the disaster Contact the SBDC below or visit America’s nationwide network of SBDCs website at https://americassbdc.org/. SBDC LOCATION Dallas Metropolitan SBDC Main Office 1402 Corinth St., Ste. 1520 Dallas, TX 75215 (214) 860-5848 [email protected] www.dallasmetropolitanSBDC.com
- Veterans Business Outreach Centers (VBOCs) through a cooperative agreement, SBA has 22 organizations participating as Veterans Business Outreach Centers designed to provide entrepreneurial development, business training, counseling, and mentoring for eligible veterans who own or are starting a small business. Contact the Veterans Business Outreach Center below or visit their website. VBOC LOCATION VBOC at University of Texas Arlington 701 South West Street, Ste. 635 Arlington, TX 76019 (817) 272-6789 [email protected] www.uta.edu/vboc
- SCORE - Helping America’s Small Businesses SCORE has experts in virtually every area of business management to mentor small businesses. Mentors are available to help small businesses with their disaster recovery (no charge for individual and team counseling). Services include: • Free online disaster preparedness/recovery resources for small business at www.score.org/disaster-preparedness-recovery • Matching volunteer business-management mentors with clients in need of expert advice • In-depth counseling and training with small business owners and managers • Help to identify business problems, determine the causes and find solutions • Maintaining a confidential and personal relationship Contact a SCORE Chapter below or visit the SCORE website at https://www.score.org/. SCORE LOCATIONS SCORE Dallas (214) 987-9491 [email protected] https://dallas.score.org Fort Worth Main SCORE (817) 871-6002 [email protected] https://fortworth.score.org/
- Women’s Business Centers (WBCs) provide technical training and counseling to women and others who are currently in business or thinking about starting a business. Assistance is targeted to meet specific needs whether a beginner or seasoned entrepreneur. Contact the WBC below or visit the Association of Women’s Business Centers website at https://www.awbc.org/. WBC LOCATION Dallas Fort Worth WBC 7800 North Stemmons Freeway, Ste 120 Dallas, TX 75241 (888) 215-2373 ext 10064 or (214) 572-9452 [email protected] https://womensbusinesscenterdfw.com