Low interest disaster loans still available for storm victims

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A combined $1.7 million in loans have been made available by the U.S. Small Business Administration to Hidalgo County residents affected by the April 28 storm.

The SBA is offering the low interest disaster loans to pay for millions of dollars in repairs to homes, business, and nonprofits in Hidalgo County. 

According to a spokesperson with the SBA, more applications are coming in.

“We have been here about three weeks now, and we have received about 25 people a day and both of the centers,” SBA spokeswoman Elizabeth Vargas said.

Nearly 300 applications have been filed since the agency started accepting them last month, and around 60 have been approved.

“What I've heard is mostly people have had a lot of damage on their roofs and in some of the insides of their home, and they got a lot of their furniture wet and their cars also — a lot of hail, so they got a lot of damage on their cars,” Vargas said.

Those who get a loan approved will receive the money within five days and have interest rates as low as 2.38%.

Applications are being accepted online through July 21, or in person through Wednesday, June 21.

You can apply in person at the following locations:

Old Church Winery, 700 N. Main St., McAllen, TX 78501

Hidalgo County Precinct 3 -  The Mansion, 2401 N. Moorefield Rd., Palmview, TX 78572

They're open Monday through Friday from 9 a.m. to 6 p.m. and on Saturday from 10 a.m. to 4 p.m. 


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