Congressman Gonzalez Encourages Small Businesses Impacted by COVID-19 to Apply for SBA Disaster Assistance

MCALLEN, Texas– Today, Congressman Vicente Gonzalez (TX-15) is encouraging small businesses in the 15th District of Texas impacted by COVID-19 to apply forU.S. Small Business Administration (SBA) Economic Injury Disaster Loans. These low-interestfederal disaster loans provide for Texas small businesses suffering substantial economic injury as a result of the COVID-19.

The disaster declaration makes SBA assistance available in the entire state of Texas. The deadline to apply for an Economic Injury Disaster Loan is December 21, 2020.

"I am committed to providing small businesses in our district with the capital they need to pay their workers and keep day-to-day operations going," said Congressman Gonzalez. "My office is ready to assist small businesses owners with federal disaster loans and begin the recovery process from the financial impacts of the COVID-19 pandemic."

SBA Customer Service Representatives will be available to answer questions about SBA's Economic Injury Disaster Loan program and explain the application process.

Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the COVID-19 since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster's impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing.

Eligibility for Economic Injury Disaster Loans is based on the financial impact of COVID-19. The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.govfor more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

For more information about COVID-19, please visit: Coronavirus.gov.

For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.