U.S. Small Business Administration offers financial help after North Texas floods

North Texas homeowners, businesses, nonprofits, churches, renters and car owners with economic losses and property damage from the August 22-25 floods can now apply for federal loans.  The storms caused an estimated $6 billion in property damage and economic loss.

Businesses, nonprofits and churches can apply for loans up to $2 million for real estate, inventory, machinery and equipment repairs and replacements. The deadline for physical damage loans is November 14, 2022. These organizations can also apply for up to $2 million in economic impact loans to replace lost revenue. The deadline for these loans is June 14, 2023.

Homeowners can receive loans up to $200,000 to repair or replace real estate damage and up to $40,000 to replace personal property. Renters can apply for loans up to $40,000 for personal property. Individuals with car damage are also eligible for relief.

Those impacted can apply online at https://disasterloanassistance.sba.gov or call SBA’s Customer Service Center at 800-659-2955. The administration has two Disaster Loan Outreach Centers: Samuell-Grand Recreation Center and Balch Springs Recreation Center. The centers offer one-on-one, walk-in assistance Mondays through Fridays from 9 a.m. to 5 p.m.