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SBA has approved Disaster Declaration #16381 Texas Disaster number TX-00544 as a statewide declaration for small businesses affected by Coronavirus (COVID-19). Effective date 1/31/2020.

Texas small business can now apply for SBA Economic Injury Disaster Loans (EIDL) to help with the COVID-19 crisis.

What’s an EIDL?

  • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
  • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills. 
  • The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
  • EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower’s ability to repay.

How do I apply?

  • Online at SBA.gov/disaster
  • Mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155

Need help? Call the SBA’s Disaster Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov.  Individuals who are deaf or hard-of-hearing can call 800-877-8339

To mail information at U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

Who can apply?

In order to be eligible, you must be a small business (500 employees or less).

  • Texas small businesses affected by the disaster – common eligible businesses include: retailers, restaurants, recreational facilities, tourism-based businesses, manufacturers, owners of rental property, hotels, wholesalers, and many more.
  • Private nonprofits
  • Small agriculture cooperatives are eligible, but agricultural enterprises are not
  • Small aquaculture businesses

How can the loan be used?

The loans are for working capital which includes fixed debts, payroll, accounts payable, and other bills that can’t be paid due to the disaster’s impact. It does not cover lost sales.

How much can I apply for?

You will not be asked how much you would like to borrow. The SBA uses the information you provide to determine the loan amount. Small businesses can receive a secured loan up to $2 million, and an unsecured loan up to $25,000.

Gather Your Materials

  • Business information
  • Contact information and social security numbers for all applicants
  • Employer Identification Number (EIN) for business applicants
  • Insurance information
  • Financial information (e.g. tax returns, financial statements, and monthly expenses)

Other key information:

  • Use Internet Explorer or Mozilla Firefox to apply.
  • Select Economic Injury (EIDL) ONLY under type of loan.
  • The ‘Help Button’ provides useful information for each page.
  • Use the ‘Save Button’ frequently.
  • Be patient and keep trying if you experience slow load times.
  • For delays in document uploads, please consider uploading documents during non-peak business hours. 

What’s next? What should you expect?

  • You will receive email confirmation that your application has been submitted
  • You will receive an email letting you know that your application is under review.
  • BE PREPARED: You will be contacted by someone from the SBA
  • Have your monthly expenses and financial projections ready

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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