Texas Governor Perry Announces SBA Assistance for Galveston and Jefferson Counties

By newsdesk - Posted on October 26th, 2007

Brazoria, Chambers, Liberty, Hardin, Harris And Orange Counties Also Eligible For SBA Assistance

-- Oct. 25, 2007 -- AUSTIN – Texas Governor Rick Perry today announced the U.S. Small Business Administration (SBA) granted his request to provide federal disaster assistance to Galveston and Jefferson counties following Hurricane Humberto, which struck the Texas coast Sept. 13, 2007. The decision automatically makes the neighboring Texas counties of Brazoria, Chambers, Hardin, Harris, Liberty and Orange counties eligible for the same federal assistance.

"After Hurricane Humberto dealt a significant blow to the coast, Texans have found themselves in great financial need to help rebuild their homes, businesses and communities," said Perry. "Texas is grateful for assistance from the SBA, which will serve as a helping hand to get local families and businesses back on their feet."

Homeowners, renters and businesses in all eight counties will be eligible to apply for low-interest SBA disaster loans. Homeowners can borrow up to $200,000 for residential damages, while renters and homeowners may borrow up to $40,000 for personal property losses. Businesses of any size and non-profit organizations can borrow up to $1.5 million to repair or replace real estate assets, machinery and equipment, business inventory and other business assets damaged in the storm. The loans are offered at low interest rates for terms of up to 30 years.

SBA can also lend additional funds to help with the cost of making improvements that would protect, prevent or minimize the same type of disaster damage from occurring in the future.

Gov. Perry also requested recovery aid from the Texas Department of Housing and Community Affairs, Office of Rural Community Affairs and the U.S. Department of Agriculture's Natural Resources Conservation Service.

For more information on SBA disaster assistance, please visit www.sba.gov/services/disasterassistance.

Source: Texas Governor

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