SBA Disaster Loan Outreach Center in West to close next Thursday

POSTED: Friday, June 7, 2013 - 8:02am
UPDATED: Sunday, June 9, 2013 - 10:06pm

The U. S. Small Business Administration’s (SBA) Dallas/Ft. Worth District Director Herbert Austin announced Thursday that SBA will close its Disaster Loan Outreach Center in the City of West on Thursday, June 13.

“SBA opened the center to provide personalized assistance to Texas residents and business owners who were affected by the West Fertilizer Plant Explosion that occurred on April 17, 2013. Until the center closes, SBA customer service representatives will continue to be available on the days and times indicated to meet with residents and business owners to answer all of their questions, explain SBA’s disaster loan program, issue applications, help them complete their applications and close their approved disaster loans,” said Austin. No appointment is necessary.

The center is located at Pointwest Drive Thru Bank. The address is 210 North Roberts Street, West, TX 76691. The hours of operation are Mondays through Fridays, 9 a.m. to 6 p.m.

The Center will close on June 13 at 6 p.m.

So far, SBA has approved nearly $5.9 million in low interest disaster loans to homeowners, renters and businesses who were affected by the explosion.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates can be as low as 1.688 percent for homeowners and renters, 2.875 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955, e-mailing or visiting SBA’s Web site at Individuals who are deaf or hard-of-hearing may call (800) 877-8339.

The filing deadline to return applications for property damage is July 1, 2013. The deadline to return economic injury applications is February 3, 2014.


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