Particular to The Dallas Examiner
Director Tanya N. Garfield of the U.S. Small Enterprise Administration’s Catastrophe Subject Operations Middle-West just lately introduced the extension of hours on the Balch Springs and Dallas Catastrophe Mortgage Outreach Facilities. Each facilities will now be opened Mondays – Saturdays to fulfill the wants of companies and people who had been affected by the extreme storms and flooding that occurred Aug. 22 by Aug. 25.
SBA catastrophe help is out there in Collin, Dallas, Denton, Ellis, Kaufman, Rockwall and Tarrant counties in Texas.
“SBA customer support representatives will probably be readily available on the following facilities to reply questions on SBA’s catastrophe mortgage program, clarify the applying course of and assist every particular person full their digital mortgage software,” Garfield continued. The facilities will probably be open on the times and instances indicated. No appointment is important.
Catastrophe Mortgage Outreach Facilities in Dallas County:
- Balch Springs Recreation Division Assembly Room, positioned at 4372 Shepherd Lane Balch Springs.
- Samuell-Grand Recreation Middle Recreation Room, positioned at 112 6200 E. Grand Ave.
SBA catastrophe loans are the first supply of cash to pay for restore or substitute prices not absolutely coated by insurance coverage or different compensation.
The SBA gives Enterprise Bodily Catastrophe Loans, low-interest catastrophe loans to companies of all sizes, most non-public nonprofit organizations, owners and renters. Personal, nonprofit organizations reminiscent of charities, church buildings, non-public universities, and so forth., are additionally eligible. Companies might borrow as much as $2 million for any mixture of property harm or financial harm. Loans embrace actual property, inventories, provides, equipment and gear.
SBA gives Financial Damage Catastrophe Loans, low-interest working capital loans to small companies, small companies engaged in aquaculture and most non-public, nonprofit organizations of all sizes having problem assembly obligations because of the catastrophe.
These working capital loans to assist small companies, small agricultural cooperatives, small companies engaged in aquaculture, and most non-public, nonprofit organizations of all sizes meet their strange and obligatory monetary obligations that can not be met as a direct results of the catastrophe. These loans are meant to help by the catastrophe restoration interval.
Residence Catastrophe Loans, Loans to owners or renters to restore or exchange disaster-damaged actual property and private property, together with cars. Householders might borrow as much as $200,000 to restore or exchange their major residence. Householders and renters might borrow as much as $40,000 to switch private property.
To be eligible, candidates should have a credit score historical past acceptable to SBA present the power to repay all loans. Collateral is required for bodily loss loans over $25,000 and all EIDL loans over $25,000. Actual property is suitable when it’s obtainable. SBA won’t decline a mortgage for lack of collateral however requires a pledge of what’s obtainable.
Rates of interest could be as little as 3.04% for companies, 1.875% for personal nonprofit organizations and a couple of.188% for owners and renters with phrases as much as 30 years. Mortgage quantities and phrases are set by SBA and are based mostly on every applicant’s monetary situation.
Candidates might apply on-line, obtain extra catastrophe help data and obtain functions at https://disasterloanassistance.sba.gov. Candidates may additionally name SBA’s Buyer Service Middle at 800-659-2955 or e mail [email protected] for extra data on SBA catastrophe help. For people who find themselves deaf, laborious of listening to, or have a speech incapacity, please dial 7-1-1 to entry telecommunications relay companies.
Accomplished functions needs to be mailed to:
U.S. Small Enterprise Administration
Processing and Disbursement Middle
14925 Kingsport Highway, Fort Price, TX 76155.
The deadline to use for property harm is Nov. 14. The deadline to use for financial harm functions is June 14, 2023.
