SBA Economic Injury Disaster Loans Available to Texas Small Businesses

SACRAMENTO, Calif. – Small nonfarm businesses in the following counties are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration. These loans offset economic losses because of reduced revenues caused by adverse weather conditions that occurred in the following primary counties in Texas, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West.

Declaration Number Primary Counties Neighboring Counties Incident Type Incident Date Deadline
16527 Bowie, Franklin and Red River Camp, Cass, Delta, Hopkins, Lamar, Morris, Titus and Wood in Texas; Little River and Miller in Arkansas; Choctaw and McCurtain in Oklahoma Excessive moisture Beginning Oct. 1, 2019 03/02/21
16528 Clay Archer, Jack, Montague and Wichita in Texas; Cotton and Jefferson in Oklahoma Freeze April 15, 2020 03/02/21
16529 Collin Dallas, Denton, Fannin, Grayson, Hunt and Rockwall in Texas Excessive rain and flooding Beginning Oct. 1, 2019 03/02/21
16530 Ellis Dallas, Henderson, Hill, Johnson, Kaufman, Navarro and Tarrant in Texas Excessive rain March 1 – April 30, 2020 03/02/21

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disasters and businesses directly impacted by the disasters,” Garfield said.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disasters not occurred.

“Eligibility for these loans is based on the financial impact of the disasters only and not on any actual property damage. These loans have an interest rate as low as  3.75 percent for businesses and 2.75 percent for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes economic injury available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared these declarations on July 2, 2020.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration.

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 disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.


For additional information and updates from the City of Duncanville visit:
duncanville.com/covid-19/

COVID-19 Business Retention Assistance Program

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Duncanville Community and Economic Development Corporation Establishes Temporary COVID-19 Business Retention Assistance Program

Duncanville, Texas – The Duncanville Community and Economic Development Corporation (DCEDC) has established a Temporary COVID-19 Business Retention Assistance Program for small businesses that have been negatively impacted by the pandemic. The DCEDC has agreed to fund $250,000 for the program to assist Duncanville businesses.  

The program is offering grants from $1,000 to $10,000 to aid small businesses with fewer than 20 employees enduring economic hardships due to COVID-19. The grants are provided on a reimbursement basis and can be used for normal operating expenses and payroll. Businesses must have been operating in Duncanville by November 14, 2019, in order to apply for assistance.

“Small businesses are the heart of our community, and the Duncanville Community and Economic Development Corporation is pleased to offer this program to help our small businesses recover from the negative effects caused by the pandemic,” said DCEDC President Steve Dial. “The DCEDC’s goal is to help provide small businesses with assistance in addition to the grants offered by the federal government and other organizations to help bridge the revenue gap created while many of them were forced to close.”

“It’s an honor and privilege to announce the establishment of a recovery initiative for our Duncanville small businesses,” said Duncanville Mayor Barry L. Gordon. “The Duncanville Community and Economic Development Corporation board of directors created a means to provide financial assistance to help weather the economic impact of COVID-19. What’s especially important about this program is that the monies available come directly from the city. This means the application process is managed locally. I commend the DCEDC board of directors for their creativity and concern for our small businesses.”

Applications will be accepted from May 12, 2020 – June 1, 2020.  Businesses can fill out an application online or print one off and submit it to the Economic Development Department at the Duncanville City Hall located at 203 E. Wheatland Rd., Duncanville, Texas 75116. The DCEDC Board will review the applications and award grants based on the economic impact to the community.

For more information and to apply for the Temporary COVID-19 Business Retention Assistance Program, visit www.DuncanvilleEDC.com or call 972.780.5090.