SBA loans available for San Antonio area flood victims

Low-interest loans available in Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson counties


SAN ANTONIO – SBA loans are now available for residents and businesses affected by severe weather and flooding in the San Antonio area late last month.

Low-interest federal disaster loans are available for weather victims in Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina and Wilson counties.

Loans up to $200,000 are available for homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 

SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

Interest rates can be as low as 1.875 percent for homeowners and renters, 2.875 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years.

Applicants can apply at the San Antonio Central Library at 600 Soledad Street from 9 a.m. to 6 p.m. Monday thru Thursday and 9 a.m. to 5 p.m. on Friday.

Applicants may apply online using the Electronic Loan Application via SBA's secure web site at https://disasterloan.sba.gov/ela

Disaster loan information and application forms are also available from SBA's Customer Service Center by calling (800) 659-2955, e-mailing disastercustomerservice@sba.gov or visiting SBA's Web site at http://www.sba.gov/services/disasterassistance

Individuals who are deaf or hard-of-hearing may call (800) 877-8339. 

The filing deadline to return applications for property damage is Aug. 12, 2013.  The deadline to return economic injury applications is March 12, 2014.