NEWS
Deadline nears for SBA disaster loans from flooding, tornado damage
Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West today reminded Texas businesses and residents of the Aug. 24, 2020, deadline to apply for an SBA federal disaster loan for property damage caused by severe storms, flooding and tornado in Montague County that occurred May 22, 2020.
According to Garfield, businesses of all sizes, most private nonprofit organizations, homeowners and renters may apply for SBA federal disaster loans to repair or replace disaster-damaged property. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
These low-interest federal disaster loans are available in Clay, Cooke, Jack, Montague and Wise counties in Texas; and Jefferson and Love counties in Oklahoma.
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.
In addition, SBA offers Economic Injury Disaster Loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for an SBA economic injury disaster loan is March 23, 2021.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 3 percent for businesses, 2.75 percent for private nonprofit organizations and 1.25 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.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for 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.
The Bowie News office will be closed Dec. 24-25 for the Christmas holiday, and Dec. 30 and Jan. 1.
There is an early deadline of 4 p.m. on Dec. 27 for the Jan. 1 Bowie News for all news and ad items.
Your Jan. 1 edition will be delivered to the mail and racks one day earlier due to the New Year’s holiday. We hope you have a great Christmas week.
Your Bowie News staff wishes you the blessings of a wonderful Christmas as you enjoy time with family and friends. Our offices will be closed Dec. 24-25 for the holiday.
Montague County Commissioners wrapped up a few items before the end of the year as they met on Dec. 23.
Grant Coordinator Charley Lanier asked the court to go ahead and obligate $276,961.84 from the American Rescue Funds to complete the new wastewater treatment plant that will serve the courthouse complex.
He explained Dec. 30 is the last date where grant funds can be obligated, and he did not expect any issues since this project had already been approved in court using ARPA funds, he called it a “safety net,” to avoid any problem and possible return of the funds to the federal government.
Montague County has about $276,961.84 in grant funds which has not been allocated.
The court gave approval on the request.
Lanier also asked the court to apply for a grant for a tire cutter. Funded through the Nortex Regional Planning Commission and Texas Commission on Environmental Quality, the application will ask for $26,865 to purchase a larger gas-powered cutter on a trailer, which can be moved around for use. It would cut the larger tires into four pieces, which would be allowed into a landfill. Lanier said if the cutter comes through the county would need to obtain a permit for its use from TCEQ, which he added should not be an issue.
Commissioner Mark Murphey said he picks up more tires abandoned on the county roads than he disposes of at his own yard, adding he probably has 500 at his yard. The court gave approval to apply for this competitive grant.
The remainder of Monday’s brief meeting were year-end items. Bonds for the justice of the peace one, county clerk, county attorney, district attorney, sheriff, commissioner three and constable two were accepted.
A cooperative agreement with Texas A&M AgriLife Extension Service and the county was approved, along with a license and services agreement with Local Government Solutions to provide software for both justice of the peace officers. The county attorney’s Chapter 59 Asset Forfeiture report was presented with no new seizures or forfeiture.
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