Last day to apply for disaster relief loans is May 26


These low-interest loans are available to help cover any uninsured losses for homeowners, renters, businesses, and private non-profits.

GILMER, Texas — **EDITOR’S NOTE — the video attached was produced in Feb. 2022 from CBS19’s sister station, WWL

The last day for in-person relief from SBA Disaster Recovery Specialists in Gilmer is May 26.

The victims of severe weather and the tornado that hit Upshur County on March 21 have been able to apply for assistance to receive federally funded disaster relief loans. These low-interest loans are available to help cover any uninsured losses for homeowners, renters, businesses, and private non-profits. 

The SBA disaster loans are the main source of federal assistance provided to those who are in need of help to pay for repair or replacement costs that are not fully covered by insurance. Homeowners may borrow up to $200,000 to repair or replace their primary residence; and homeowners and renters can borrow up to $40,000 to replace personal property lost or damaged.

The final day to for any in-person assistance from SBA Disaster Recovery Specialists is Thursday, May 26. They will be located at the Disaster Loan Outreach Center inside the Upshur County Courthouse in Gilmer, located at 100 West Tyler St., in the Old Commissioners Meeting Room on the third floor.

The center is open Monday through Friday, 8:30 a.m. to 5 p.m., with the center closing at 5 p.m. on Thursday.

The loans may have terms up to 30 years, and interest rates vary depending on the property it is needed for:

  • Homeowners and renters can have rates as low as 1.438%
  • Businesses can have rates starting at 2.940%
  • Private non-profit organizations start at 1.875%

Businesses are able to borrow up to $2 million for any combination of property damage and economic injury. Additionally, the SBA offers low-interest working capital loans, also called Economic Injury Disaster Loans, to small businesses; small businesses engaged in aquaculture; and private, non-profit organization of any size that is having difficulty meeting obligations due to the disaster.

Applicants can also apply online through the Disaster Loan Assistance website; call the Customer Service Center at (800) 659-2955; or email the office for more information. Those who are hard-of-hearing or deaf may call (800) 877-8339.

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