Feds Declare Disaster Aid for Texas Tornado Damage Recovery
Published Date: 5/12/2026
Notice
Summary
Texas got hit hard by storms and tornadoes from April 24 to May 1, 2026, and now the government is stepping in with disaster loans to help folks and businesses bounce back. If you live in Parker, Wise, or nearby counties, you can apply for low-interest loans to fix damage or cover lost income. Act fast—physical damage loan applications close July 6, and economic injury loans are available until February 8, 2027.
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Homeowner Disaster Repair Loans
If you are a homeowner in the declared Texas disaster area, you can apply for SBA physical damage loans to repair storm or tornado damage. The interest rate is 5.750% for homeowners with credit available elsewhere and 2.875% for homeowners without credit available elsewhere; physical loan applications must be filed by July 6, 2026.
Small Business Physical Damage Loans
Small businesses in the declared Texas disaster area may apply for SBA physical damage loans to repair damage from the April 24–May 1, 2026 storms. The interest rate is 8.000% for businesses with credit available elsewhere and 4.000% for businesses without credit available elsewhere; physical loan applications must be filed by July 6, 2026.
Economic Injury (EIDL) Loans for Businesses
Businesses and small agricultural cooperatives in the declared Texas disaster area can apply for Economic Injury Disaster Loans (EIDL) for working capital losses from the storms; the interest rate listed for businesses and small agricultural cooperatives without credit available elsewhere is 4.000%. EIDL applications are available through February 8, 2027.
Private Nonprofit Disaster Loan Availability
Private nonprofit organizations in the declared Texas disaster area can apply for SBA physical damage loans and EIDL; the interest rate shown is 3.625% (both for physical damage and for economic injury without credit available elsewhere). Physical loan applications must be filed by July 6, 2026 and EIDL applications by February 8, 2027.
How to Apply and Contact Help
Affected applicants should use the MySBA Loan Portal at https://lending.sba.gov to apply or apply in person at locally announced locations. For assistance contact the SBA disaster assistance customer service center at 1-800-659-2955, email [email protected], or dial 7-1-1 for telecommunications relay services if deaf, hard of hearing, or speech disabled.
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