SBA Disaster Loans deadlines approaching

HARLINGEN, Texas (ValleyCentral) — The U.S Small Business Administration (SBA) is offering resources until July 22 to Rio Grande Valley residents who were impacted physically by the flooding that occurred in March.

SBA is offering physical damage loans to repair or replace property damage. Homeowners, renters, businesses, and non-profits in the following counties may apply.

• Cameron
• Hidalgo
• Starr
• Willacy

Low-interest loans starting at:

Maximum amounts:

• Up to $500,000 for primary residences
• $100,000 for personal property
• $2 million for businesses and non-profits

Flexible terms up to 30 years with a 12-month deferment and no interest during this period.

Mitigation funding:

• Add up to 20% of verified damage for prevention upgrades.

Additionally, businesses and non-profits experiencing financial hardships caused by the flooding have until February 23 to apply for an Economic Disaster Loan.