Disaster Recovery for Businesses

Disaster Assistance Loans through the U.S. Small Business Administration (SBA)

Due to President Biden's major disaster declaration, low-interest federal disaster loans are now available to Texas businesses and residents.

Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles. Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

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

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.

As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955. More information on SBA Disaster Recovery Assistance can be viewed on the SBA's website.

Governor's Economic Development Office - Business & Community Emergency Recovery Resources

There are multiple state and federal recovery resources available to Texas businesses and communities following a natural disaster or emergency. For information on these resources, please visit https://gov.texas.gov/business/page/recover

Cleveland EDC's Facade Improvement Grant Program

The current Facade Program is intended to "promote the development and expansion of existing businesses within the City of Cleveland, to enhance the economic welfare of the City by securing and retaining businesses and maintaining a higher level of employment, economic activity and stability."

If your business was damaged during Hurricane Beryl, this may be a good time to consider enhancements to your building that you've contemplated or put off in the past.

Fore additional information on the Facade Improvement Grant, please visit our Incentives webpage for more details and to apply.

Additional Resources

Additional resources and information regarding Hurricane Beryl-related recovery and assistance programs can be found on the City's Storm Center webpage.