PORT ARTHUR — The Small Business Administration announced Friday the approval of more than $55 million in SBA Disaster Loans in Texas, according to Carl Sherrill, SBA communications specialist.
In Jefferson County, the SBA approved over $2.5 million. Their average loan in Southeast Texas is around $66,000 versus $50,000 for the total state — which reflects the extensive damage in Southeast Texas.
Based on statewide figures, 95 percent of those who have received SBA disaster loan applications have not returned them — and as of now, the deadline for applications to be submitted is less than a month away on November 12.
The SBA has issued 35,458 applications in Jefferson County: 28,890 renter/home applications and 6,568 business applications.
Anyone needing assistance with their application can visit the Disaster Recovery Center at the Robert A. “Bob” Bowers Port Arthur Civic Center, 10 a.m. to 7 p.m., Monday through Saturday, and 1 p.m. to 6 p.m. on Sundays. Businesses can visit the Business Assistance Center at the Lamar State College Small Business Development Center, SBDC, 9 a.m. to 5 p.m., Monday through Friday. The SBDC can help businesses re-create financial statements that were lost. Their services are free.
Submitting a loan application is not a commitment — but it is a possible gateway to further assistance. For 98 percent of renters/homeowners who submit applications, the SBA is able to either make them a loan or refer them to FEMA for possible further assistance.
Insurance does not have to be settled before registrants submit their SBA application. Sherrill says the SBA wants to get funds into people’s hands as soon as possible so they can begin to rebuild. Insurance settlements can be used to pay down the loan later.
If the SBA had someone’s application, on Friday for instance, the agency could possibly have them an answer by the first week of November —s o far this year the SBA has been able to have an answer for renters/homeowners in six days and businesses in 10 days. Sherrill says this is a reflection of the $55 million the SBA has already approved in Texas.
”I know people in Jefferson County have had a lot to think about, but I don’t want anyone miss out on assistance that may be available to them. And after November 12, this assistance may not be available if they have not completed their SBA application,” Sherrill said.
Business
October 17, 2008
SBA disaster loan assistance tops $50 million in Texas
- Business
-
- Sales tax revenue on the upswing
- Port remains strong despite economy
- BBB announces board officers for 2009
-
Nederland Chamber thinks utility with raffle giveaway
The Nederland Chamber of Commerce wanted to do something different as a fund raiser this year, so they decided to raffle off the Kubota. The chamber drew Brown’s name during the giveaway event Thursday, Oct. 30 at The Tamale King at 2495 North Twin City Highway.
- SBA disaster loan assistance tops $50 million in Texas The Small Business Administration announced Friday the approval of more than $55 million in SBA Disaster Loans in Texas, according to Carl Sherrill, SBA communications specialist.
-
Funeral home stays true to their roots
Lionel Tate, director of Moody Harris Funeral Home in Port Arthur, said when their old building was razed and the opportunity to rebuild arose, they considered building in another part of town, but decided to stay where they were.
- New Groves plumbing company Groves serves as Marcum’s headquarters where he celebrated the opening of his business with a ribbon cutting with The Greater Port Arthur Chamber of Commerce, The Greater Beaumont Chamber of Commerce, The Groves Chamber of Commerce and the Orange Chamber of Commerce Monday, Aug. 11.
- New PAEDC industrial park nearing completion The board of directors of the Port Arthur Economic Development Corporation approved the purchase of 7.295 acres of land on Texas 73 for a new industrial park at their last meeting. Now all that awaits to seal the deal is approval from the Port Arthur City Council.
- Transportation seminar to focus on port and rail facilities The Southeast Texas chapter of the Texas Association of Business will conduct a transportation summit dealing with ports and rails from 8:30 a.m. to 11:45 a.m., Wednesday, Aug. 13 in the Spindletop Room at the University Reception Center in the Gray Library on the eighth floor at Lamar University in Beaumont. Registration begins at 8 a.m. and fees are $20 per person.
- PAEDC to look at business award selection procedures
- More Business Headlines
Serial Stabbings Suspect Guilty of Murder
Facebook Shares Continue Negative Slide
8 Hurt in Oklahoma Shooting After NBA Playoff
US Airways: Diverted Flight Has 'Landed Safely'
A Few Odd Business Sparks but Europe Gloomy
Revived Focus on Regulation After JPMorgan Loss
Gerard Butler: the Good, the Bad and the Cannes
At Least 25 Dead in India Train Collision
Raw Video: Private Rocket Blasts Off
Boy to Rescuers: 'Do You Have a Plan?'
Doctors and Devotees Debate Barefoot Running
Blacks Seek to Find Their Own Missing
Houston Museum Unveils $85 Million Dinosaur Hall
Chicago Police: 90 Arrested in NATO Protests
Ex-Rutgers Student Gets 30 Days in Webcam Case
Obama Sees Inspiration in Joplin Graduates
Raw Video: Man Saved After Niagara Falls Plunge
NATO: Afghan Exit 'Irreversible'
Catholic Groups Sue Over Contraception Mandate
4 Arrested After Man's Beating at Dodger Stadium
