Business owners or homeowners whose property was damaged by the February winter storm can apply for low-interest loans from the U.S. Small Business Administration. Photo courtesy of Lee Ann Clark
Low-interest disaster loans are being offered to non-farm businesses of all sizes, private nonprofits, homeowners, and renters in Burnet and Llano counties through the U.S. Small Business Administration. The loans are for those who suffered losses from the severe winter storm that began Feb. 11.
Homeowners can obtain loans of up to $200,000 to repair or replace real estate damage and up to $40,000 to replace personal property.
Renters can request loans of up to $40,000 to repair or replace personal property.
Business owners can apply for loans of up to $2 million to repair or replace real estate, machinery and equipment, inventory, and other damaged assets. The loans are open to businesses of any size and to private, nonprofit organizations.
Small businesses and most private nonprofit organizations that suffered adverse financial impacts with or without property loss also can apply for $2 million for working capital and to help pay obligations until normal operations resume.