As has been widely reported, the federal government’s major disaster declaration in response to Hurricane Harvey brought with it a number of federal aid programs related to Federal Emergency Management Agency (FEMA).
FEMA programs are not the only option for aid, however. Another option is the disaster loan program activated by the U.S. Small Business Administration (SBA).
This program can provide property owners with the financial means to repair or replace damaged or destroyed real estate (and other assets).
Details Regarding the SBA’s Disaster Loan Program
The SBA’s disaster loan program:
- Applies to 18 Texas counties
- Gives homeowners access to as much as $200,000.00 for the repair and replacement of real estate and up to $40,000.00 to repair or replace personal belongings
- Is open to business owners, who can borrow up to $2 million to repair real estate and other business assets
- Is associated with interest rates starting at 1.75% for homeowners and 3.3% for business owners
- Comes with terms up to 30 years.
Here is more information on these loans and the SBA’s program.
Get Essential Advice Regarding Your Recovery Options: Contact an Insurance Lawyer at the Amaro Law Firm
An insurance lawyer at the Amaro Law Firm is ready to help you successfully navigate the claims and recovery process in the wake of Hurricane Harvey.
Call (877) 892-2797, text (281) 612-8024 or email our firm for your FREE Consultation, during which you can find out more about your recovery options and how we can help you moving forward.
The Amaro Law Firm’s history of extraordinary representation and success in hurricane damage claims has earned us glowing testimonials from former clients, as well as 5-star ratings on Google and Facebook.