Loans available for damage related to spring storm of April 28, 2023
City of McAllen Emergency Management officials are reminding businesses that the deadline to apply for disaster relief for damage related to the severe thunderstorm, large hail and straight-line winds of April 28, 2023 is fast approaching. The U.S. Small Business Administration’s Office of Disaster Recovery & Resilience federal disaster loan for economic injury is available to small non-farm businesses, small agricultural cooperative, small businesses engage in aquacultures and most private non-profit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster.
“While many local businesses may have moved on from the devastating storm back in April of 2023, others may have forgotten or even not realized that this assistance was still available,” said McAllen Emergency Management Coordinator and Assistant City Manager Jeff Johnston. “We encourage our small businesses that are still feeling the impact from that storm to reach out to the SBA and have a conversation with them before the assistance deadline.”
These low-interest loans are available to businesses in Brooks, Cameron, Hidalgo, Kenedy, Starr and Willacy counties.
According to the SBA, the low interest loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage.
To apply and for more information regarding the loans, please visit www.sba.gov/disaster. 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. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
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