Round Rock residents and businesses impacted by the March 21 tornado qualify for low-interest federal disaster loans following a disaster declaration issued for Williamson County by the U.S. Small Business Administration. (Chance Flowers/Community Impact Newspaper)
The SBA’s Disaster Field Operations opened a loan outreach center at Clay Madsen Recreation Center on May 16. The center will be open from 9 a.m. to 6 p.m. on weekdays, and no appointments are necessary. In an announcement from the city, SBA Disaster Field Operations Center-West Director Tanya N. Garfield said customer service representatives will be available at the center to assist in the application process and help file the electronic loan application.
These disaster loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. According to the city, homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Any business or 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, according to the city’s announcement.
SBA offers Economic Injury Disaster Loans to help meet working capital needs of small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size that suffered damages as a result of the designated disaster. This assistance is available regardless of any property damage.
Application deadlines are July 5 for property damage and Feb. 6 for economic injury.
More information about the disaster loan program is available at https://disasterloanassistance.sba.gov. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email [email protected] for more information.