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SBA hurricane loans now a chance for companies, home owners, tenants

SBA hurricane loans now a chance for companies, home owners, tenants

HARLINGEN — Gov. Greg Abbott announced within the that his request for an Economic Injury Disaster Declaration for six counties hit by Hurricane Hanna has been approved weekend.

Your decision starts the gate for regional non-farm small businesses, personal nonprofits, homeowners and renters in Cameron, Hidalgo, Willacy, Starr, Brooks and Kenedy counties to try to get small company Administration long-lasting, https://speedyloan.net/bad-credit-loans-ks low-interest loans.

“Texas thanks the U.S. Small Business management for supplying this economic lifeline to qualifying smaller businesses when you look at the Rio Grande Valley while they continue steadily to reconstruct from Hurricane Hanna,” Abbott stated. “We will work alongside our federal partners to make sure Texans have actually the resources and help they should get over this storm.”

Who qualifies for those catastrophe funds?

Home owners can buy loans all the way to $200,000 to fix or change property harm and $40,000 to restore individual home. Tenants can receive as much as $40,000 to fix or change individual home since well.

Businesses can receive as much as $2 million to fix or change estate that is real equipment and gear, stock along with other assets damaged or damaged. These loans can be obtained to any or all companies of every size, in addition to personal, nonprofit businesses.

Economy damage loans are just offered to businesses that are small many nonprofit organizations that are enduring unfavorable monetary effects from hurricane harm. These loans may be as much as $2 million for working capital to simply help spend responsibilities until normal operations resume.