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

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

HARLINGEN — Gov. Greg Abbott announced within the week-end that their ask for 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 try to get small company Administration long-lasting, low-interest loans.

“Texas thanks the U.S. Small Business management for supplying this economic lifeline to qualifying small enterprises into the Rio Grande Valley while they continue steadily to reconstruct from Hurricane Hanna,” Abbott stated. “We will work alongside our federal lovers to guarantee Texans have actually the resources and help they should get over this storm.”

Who qualifies for those catastrophe funds?

Home owners can buy loans as high as $200,000 to fix or change property harm and $40,000 to change individual home. Renters can receive as much as $40,000 to correct or change individual home since well.

Companies can receive as much as $2 million to correct or replace property, equipment and gear, stock as well as other assets damaged or damaged. These loans can be found to all or any companies of every size, in addition to personal, nonprofit companies.