On Mar. 28, SBA made disaster aid available to TX small businesses.
SBA made Economic injury disaster loans (EIDLs) available to Texas small businesses.
Loans offset economic losses caused by drought that began on Nov. 1, 2023.
Eligibility
Small nonfarm businesses in 165 TX counties, neighboring parishes in LOU and neighboring counties in NM and OKLA are now eligible for llow-interest disaster loans.
EIDLs are intended to offset economic losses due to reduced revenues caused by drought in the following primary Texas counties that began Nov. 1, 2023.
165 primary, neighboring counties in Texas are eligible as listed in SBA press release.
Also Oklahoma counties of Cotton, Harmon, Jackson, Jefferson, Love and Marshall.
Small nonfarm businesses, agricultural cooperatives, businesses engaged in aquaculture and most private nonprofits may qualify for EIDLs up to $2 million.
These EIDLs are intended to help meet financial obligations and operating expenses which could have been met by the loan applicant had the disaster not occurred.
Eligibility for loans is based on financial impact of disaster and not on actual damage.
Deadline
Completed applications for EIDLs must be submitted to SBA by Nov. 25, 2024.
