Small Business Administration opens Disaster Loan Outreach Center in Fritch FRITCH, Texas (KFDA) – The Office of Disaster Recovery and Resilience at the Small Business Administration (SBA) has announced the opening of a Disaster Loan Outreach Center in Fritch to assist those impacted by the Panhandle wildfires. “SBA’s customer service representatives will be on hand at the following center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application,” said Francisco Sanchez Jr., associate administrator for the Office of Disaster Recovery and Resilience. The center will open on March 20 and will be open Monday through Saturday from 9 a.m. to 6 p.m. at the Celebration Family Church West Room, located at 811 E Broadway Street. Two other Disaster Loan Outreach Centers are available in the Panhandle. The Hemphill County center is located at the Hemphill County Courthouse in Room 202 in Canadian. Another Hutchinson County center is located at the Dome Civic and Convention Center in the Eddie Edwards Room in Borger. Both centers are also open Monday through Saturday from 9 a.m. to 6 p.m. Businesses of all sizes as well as private nonprofits may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to help with costs of improvements to protect, prevent or minimize disaster damage from occurring in the future. For small businesses, agricultural cooperatives, businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet needs caused by the disaster. This assistance is available regardless of whether the business suffered property damage. The SBA disaster loans are up to $500,000 and are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including vehicles. Loan amounts, rates and terms are set by the SBA and are based on the applicant’s financial condition. Repayment begins and interest does not begin to accrue until 12 months from the date of the first loan disbursement. The deadline to apply for both declarations for property damage is May 13. The deadline to apply for economic injury is Dec 13. Copyright 2024 KFDA. All rights reserved.
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