SBA centers opening in east Texas, SW Okla. to help with tornado recovery efforts

Low interest disaster loans are available to Texas and Oklahoma businesses and residents.
Published: Nov. 18, 2022 at 3:31 PM CST
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(KSLA) - Federal help is on the way for residents affected by the tornadoes that blew through the area earlier in November.

[At least 8 tornadoes touched down in the ArkLaTex during storms Friday evening]

Low interest disaster loans are available to Texas and Oklahoma businesses and residents. The area has been declared a disaster, which allows the Small Business Administration (SBA) to step in. Beginning Monday, Nov. 21, the SBA will open disaster loan outreach centers in the affected counties, including Bowie, Cass, and Morris in Texas and McCurtain in Okla. Officials say the low interest loans can be obtained for structural and vehicle damage.

“For businesses, the cap is $2 million unless it is considered a major source of employment for the community. Of course for the homeowner, it’s $200,000 for real estate, but homeowners can also borrow an additional 20% of their total lost for any kind of mitigated measures. Whatever can protect the home from future harm, that’s also eligible for mitigated measure,” said Corey Williams, a representative with SBA.

Williams says they hope to keep the centers opened as long as there is a need.

DISASTER ASSISTANCE LOCATIONS IN TEXAS

BOWIE COUNTY

  • New Boston Community Center
  • 301 NE Front St., New Boston
  • Opens 9 a.m. Monday, Nov. 21
  • Regular Hours: Monday - Friday, 9 a.m. to 6 p.m.
  • Closed for Thanksgiving (Nov. 24 & 25)

CASS COUNTY

  • Hughes Springs Community Center
  • 902 E First St., Hughes Springs
  • Opens 9 a.m. Monday, Nov. 21
  • Regular Hours: Monday - Friday, 9 a.m. to 6 p.m.
  • Closed for Thanksgiving (Nov. 24 & 25)

MORRIS COUNTY

  • Morris County Courthouse Annex
  • 502 Union St., Daingerfield
  • Opens 9 a.m. Monday, Nov. 21
  • Regular Hours: Monday - Friday, 9 a.m. to 6 p.m.
  • Closed for Thanksgiving (Nov. 24 & 25)