Glen E. Ellman
The U.S. Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for Fort Worth-area residents and businesses impacted by the June 23 fire at the Cooper Apartment Complex. The loans are designed to help offset both physical and economic losses from the disaster.
The SBA issued the disaster declaration on July 16 in response to a request from Gov. Greg Abbott. In addition to Tarrant, the declaration covers Dallas, Denton, Ellis, Johnson, Parker, and Wise counties.
Eligible small businesses and private nonprofits may apply for up to $2 million in business physical disaster loans to repair or replace damaged real estate, machinery, equipment, inventory and other assets. Economic Injury Disaster Loans (EIDL) are also available for working capital needs — such as payroll and accounts payable — even if no physical damage occurred.
Homeowners can apply for up to $500,000 to repair or replace their primary residence, while renters and homeowners may borrow up to $100,000 to replace personal property, including furniture, vehicles and appliances. In some cases, borrowers may qualify for an additional 20% of verified damages for mitigation improvements like storm windows or pipe insulation.
Interest rates are as low as 4% for businesses, 3.625% for nonprofits, and 2.813% for homeowners and renters, with terms up to 30 years. No interest accrues and no payments are due until 12 months after the first loan disbursement.
“When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”
Starting July 21, SBA representatives will be available at the Disaster Loan Outreach Center, located at One Safe Place, 1100 Hemphill St. in Fort Worth. The center is open Monday through Friday from 9 a.m. to 6 p.m. Schedule an appointment here.
To apply online, visit sba.gov/disaster. For assistance, call 800-659-2955 or dial 711 for relay services. Send email here. The deadline for physical damage applications is Sept. 15, 2025. The deadline for economic injury applications is April 17, 2026.