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SBA hurricane loans now a spin for companies, property owners, tenants

HARLINGEN — Gov. Greg Abbott announced on the week-end that their request an Economic Injury Disaster Declaration for six counties struck by Hurricane Hanna happens to be approved.

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 utilize for small company Administration long-lasting, low-interest loans.

“Texas thanks the U.S. Small Business management for providing this economic lifeline to qualifying smaller businesses in the Rio Grande Valley while they continue steadily to rebuild from Hurricane Hanna,” Abbott stated. “We will work alongside our federal lovers to make sure Texans have actually the resources and help they have to cure this storm.”

So who qualifies of these catastrophe funds?

Home owners can buy loans all the way to $200,000 to fix or change real-estate harm and $40,000 to displace property that is personal. Tenants can receive up to $40,000 to fix or change property that is personal well.

Organizations can receive as much as $2 million to correct or change property, equipment and gear, stock as well as other assets damaged or damaged. These loans can be obtained to all or any companies of any size, along with personal, nonprofit companies.

Economy damage loans are merely open to businesses that are small most nonprofit organizations that are enduring negative financial effects from hurricane harm.