Residents and companies over the Rio Grande Valley and past will now have the ability to submit an application for low-interest loans through the U.S. small company management after the aftermath of Hurricane Hanna.
SBA Administrator Jovita Carranza made the statement via news launch Wednesday, showing SBA issued the tragedy statement under its very own authority as well as the demand of Gov. Greg Abbott, whom delivered the agency a page Aug. 28.
In the communication, Abbott noted 34 houses and/or companies in Hidalgo County had experienced an uninsured loss in more than 40%.
On Wednesday, he thanked the agency for the consideration after it announced it might issue the statement for Hidalgo County and five other surrounding counties â€” Brooks, Cameron, Kenedy, Starr and Willacy.
â€œTexas thanks the U.S. Small Business management for providing this lifeline that is financial qualifying smaller businesses in the Rio Grande Valley because they continue steadily to reconstruct from Hurricane Hanna,â€ Abbott stated via news launch. â€œWe will work alongside our partners that are federal make sure Texans have actually the resources and help they have to get over this storm.â€
Organizations of most sizes and private nonprofit businesses may borrow as much as $2 million to fix or replace damaged or destroyed estate that is real machinery and gear, stock as well as other company assets.