Washington, D.C. - U.S. Congressman Kevin Brady (R-The Woodlands) announced today that the United States Small Business Administration (SBA) is making low interest disaster loans available to those affected by Hurricane Humberto.  These federal loans are available to homeowners, renters, businesses of all sizes and private and non-profit organizations whose property was damaged or destroyed by Humberto.  Homeowners are eligible for up to $200,000 in loans to repair or replace their damaged primary residence; homeowners and renters are eligible for up to $40,000 to repair or replace damaged personal property; businesses and non-profits may borrow up to $1.5 million to repair or replace business assets.

“This is not a government hand out, but a hand up.  These low interest loans will allow those affected by this storm to get on their feet and help themselves through the tough times ahead.  I am grateful that the SBA has made these loans available to Southeast Texas.  I am very glad that these counties and people will have access to the resources they need to put their lives back together as quickly as possible,” said Brady.

The declaration covers the counties of Brazoria, Chambers, Galveston, Hardin, Harris, Jefferson, Liberty, Orange and Cameron Parish in Louisiana.  The SBA acted under its own authority to declare these counties a disaster area and make the low interest loans available.  The deadline for property damage applications is December 21, 2007; economic injury applications are due by July 22, 2008.

Other funds are available to property owners for the purpose of making improvements aimed at protecting, preventing or minimizing damage from a similar disaster in the future.  Small businesses can apply for working capital assistance through the Economic Injury Disaster Loans; these funds are available regardless of whether the business suffered any property damage.  

Offices will open on October 25, 2007 in High Island, Beaumont and Orange.  SBA’s Disaster Loan Outreach Center can be reached at (800) 659-2955 or www.sba.gov/services/disasterassistance.