Texas Storms Trigger SBA Disaster Loans for Recovery
Published Date: 3/25/2025
Notice
Summary
Texas got hit hard by storms, straight-line winds, and tornadoes on March 4, 2025, especially in Dallas and nearby counties. The government declared it a disaster, opening the door for low-interest loans to help homeowners, businesses, and nonprofits recover. You’ve got until May 19, 2025, to apply for physical damage loans and until December 19, 2025, for economic injury loans—so don’t wait!
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Physical damage loans for homeowners
If your home was damaged by the March 4, 2025 storms in the declared Texas area, you can apply for an SBA physical disaster loan by May 19, 2025. Interest rates are 5.500% for homeowners with credit available elsewhere and 2.750% for homeowners without credit available elsewhere.
Disaster and EIDL loans for businesses and nonprofits
Businesses, small agricultural cooperatives, and nonprofit organizations affected by the March 4, 2025 storms in the declared Texas area can apply for SBA physical damage loans (deadline May 19, 2025) and Economic Injury Disaster Loans (EIDL) (deadline December 19, 2025). Physical-damage interest rates: businesses with credit available elsewhere 8.000% and without 4.000%; non-profits 3.625% (with and without credit). EIDL rates: businesses and small agricultural cooperatives without credit 4.000%; non-profits without credit 3.625%.
Who and where is covered
The SBA disaster declaration covers Dallas County (primary) and the contiguous Texas counties Collin, Denton, Ellis, Kaufman, Rockwall, and Tarrant for the March 4, 2025 storms. Residents, homeowners, businesses, and nonprofits in these listed counties are the populations named as adversely affected.
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Key Dates
Department and Agencies
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