Disaster Loans Still Available for Businesses Impacted by Dallas County Tornado
DALLAS (WBAP/KLIF) – There’s still time for businesses impacted by the October tornado that ripped through parts of Dallas County to ask for financial help.
The Small Business Administration reminded Dallas County residents during a public meeting Tuesday that it will loan up to $2 million to business owners without insurance to recover from the storm.
Eric Lindberg with the Northwest Dallas Business Administration was at the meeting and said there are still hundreds of businesses struggling with how to bounce back.
“A lot of these people with small businesses boot strap their businesses and they are working hard doing it themselves,” said Lindberg. “They’re not aware of these resources are available.”
Businesses of all sizes 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. 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.
“We are into the recovery phase of the disaster cycle,” said Michael Mendoza, chief of Economic Development and Neighborhood Services. “This phase takes us into the restoration and construction of our neighborhoods. Our aim is to leverage the City’s voice and development tools to support residents as they strive to get back into their homes, schools, and jobs.”
The deadline to apply for help with physical damage is January 13. Applications can be picked up at the Bachman Lake Library in Dallas or filled out online at disasterloan.sba.gov/ela.
Listen to Clayton Neville’s story Below:
Copyright 2019. WBAP/KLIF News. All Rights Reserved.