SBA Texas Disaster Assistance Drought

Published on: Jun 27, 2024

On Jun. 24, SBA made disaster aid available to Texas businesses.

  • SBA made economic injury disaster loans (EIDLs) available to Texas small businesses.
  • Loans offset economic damages resulting from drought that began on Apr. 16, 2024.
  • Eligibility
  • Primary county designated for disaster aid is Zavala with neighboring counties of Dimmit, Frio, Kinney, Maverick, Medina and Uvalde also eligible for EIDLs from SBA.
  • In addition, small nonfarm businesses, agricultural cooperatives, businesses engaged in aquaculture and most private nonprofits may qualify for EIDLs of up to $2 million.
  • EIDLs are intended to help meet financial obligations and operating expenses which could have been met by the victims had the drought disaster not occurred.
  • Eligibility is based on financial impact of disaster only and not on actual damage.
  • Application Deadline
  • SBA noted that applications for EIDLs must be submitted to SBA by Feb. 18, 2025.
Regulators
SBA
Entity Types
CNSM; Corp
Reference
PR TX 20412-01, 6/24/2024
Functions
BCS; Compliance; Financial; Legal; Operations; Risk
Countries
United States of America
Category
State
N/A
Products
Corporate; Loan
Rule Type
Final
Regions
Am
Rule Date
Jun 24, 2024
Effective Date
Feb 18, 2025
Rule ID
217067
Linked to
N/A
Reg. Last Update
Jun 24, 2024
Report Section
US Investment