Gov. Abbott: SBA flooding assistance approved for Texas Panhandle counties

Gov. Greg Abbott announced on Wednesday that the U.S. Small Business Administration (SBA) approved his request for a disaster declaration for Northwest Texas communities affected by severe flooding caused by heavy rainfall that began on May 27.

As a result, low-interest federal disaster loans are available to Texas businesses and residents affected by the severe storms that occurred May 27 through June 14, according to SBA Administrator Isabella Casillas Guzman.

The counties in the SBA disaster declaration include Potter and Randall counties, as well as the following areas:

• Armstrong County

• Carson County

• Deaf Smith County

• Moore County

• Oldham County

“SBA’s mission-driven team stands ready to help Texas’s small businesses and residents impacted by severe storms and flooding,” Guzman said in a news release. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”

Disaster Loan Outreach Center set up in Amarillo starting July 6

“Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by this disaster,” said Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West. “Beginning Thursday, July 6, SBA customer service representatives will be on hand at the following Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Garfield continued.

The center will be open on the days and times indicated below until further notice; no appointment is necessary:

• POTTER COUNTY

• Disaster Loan Outreach Center

• Amarillo Public Library, Room AB

• 413 SE 4th Ave

• Amarillo, TX 79101

• Opens 1 p.m. Thursday, July 6

• Mondays-Fridays, 9 a.m. – 5 p.m.

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, according to the SBA news release. The administration can also lend additional funds to businesses and homeowners 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 to help meet working capital needs caused by the disaster. Economic injury 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, including personal vehicles.

Interest rates can be as low as 4 percent for businesses, 2.375 percent for private nonprofit organizations and 2.5 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, SBA said.

Abbott announced June 30 that he had requested the disaster declaration from SBA. Following the severe storms, the governor directed the Texas Department of Emergency Management to activate state emergency response resources and increase the readiness level of the Texas State Operations Center to support requests for assistance from local officials. On June 6, Abbott issued a disaster declaration for the Texas Panhandle, High Plains, and South Plains regions impacted by flooding and severe weather.

“This disaster declaration is an important step to help ensure Northwest Texas communities impacted by severe flooding continue to receive the assistance needed to rebuild and recover," Abbott said in a news release. "I thank the Texas Division of Emergency Management for working with the U.S. Small Business Administration to determine that eligibility requirements were met for Potter County and surrounding counties. The State of Texas continues to work with our local and federal partners to provide all available support and assistance to homeowners and businesses as they recover from this severe flooding."

Last week, local, state, and federal partners conducted joint preliminary damage assessments of damage suffered to homes and businesses. Local, state, and federal officials also conducted an analysis of damage sustained in impacted communities, which verified that Potter County meets the federally required thresholds for SBA assistance. Additionally, officials reviewed disaster damage information self-reported by Texans through Individual State of Texas Assessment Tool (iSTAT) surveys.

Other ways to apply for loan assistance online, by phone, mail

SBA loan applicants may apply online, receive additional disaster assistance information, and download applications at disasterloanassistance.sba.gov. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Completed loan applications may also be submitted to SBA’s Processing and Disbursement Center, located at 14925 Kingsport Road, Fort Worth, Texas, 76155.

The deadline to apply for property damage is Sept. 1, 2023. The deadline to apply for economic injury is April 3, 2024.

This article originally appeared on Amarillo Globe-News: Gov. Abbott request for SBA flooding relief approved for region