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SBA Offers Disaster Assistance to Morris County Residents, Businesses, and Nonprofits

4/23/2025

 

The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans to help Texas residents, businesses, and nonprofits recover from the damage caused by the April 4, 2025 thunderstorms, straight-line winds, and tornadoes. This assistance is available to those in Morris County and surrounding counties.

Who Can Apply?

  • Homeowners may borrow up to $500,000 to repair or replace their primary residence and up to $100,000 for personal property.

  • Renters may apply for up to $100,000 to replace personal belongings such as furniture, appliances, and vehicles.

  • Businesses and nonprofits can apply for up to $2 million to repair or replace real estate, equipment, and inventory.

  • Small businesses, agricultural cooperatives, and private nonprofits may also apply for Economic Injury Disaster Loans (EIDLs) to cover working capital needs.

Key Loan Features:

  • Interest rates as low as 2.75% for homeowners/renters, 3.625% for nonprofits, and 4% for businesses.

  • Loan terms of up to 30 years.

  • Payments are deferred and interest does not accrue for the first 12 months.

  • Applicants may be eligible for an additional 20% in loan funds for mitigation projects such as storm windows or insulation.

Disaster Loan Outreach Center Open in Daingerfield:

Morris County Collaborative
200 Jefferson St., Daingerfield, TX 75638
Open: Starting Wednesday, April 23 at 11 a.m.
Hours: Monday through Friday, 8:00 a.m. – 5:00 p.m.
Closes: Wednesday, May 14 at 5:00 p.m.

Walk-ins are welcome, or schedule an appointment at appointment.sba.gov.

Apply Now:

Important Deadlines:

  • Physical Damage Applications: June 20, 2025

  • Economic Injury Applications: January 21, 2026

For additional information and to begin the application process, please visit www.sba.gov.