Disaster Relief Loans for Texas Small Businesses

If your small business was impacted by recent disasters, PeopleFund may be able to help.

In response to the severe challenges facing Texas business owners, PeopleFund is offering flexible, low-interest disaster relief loans to help you recover and rebuild.

Option 1

Loan Details:

  • 6 months no payments, no interest

  • Followed by 66 months of principal & interest at 5% fixed rate

  • Fully amortized over 72 months total

  • No prepayment penalties

Option 2

Loan Details:

  • 6 months no payments, no interest

  • Followed by 66 months of principal & interest at 6.5% fixed rate

  • 25 yr amortization with balloon payment (or refinance) on month 72

  • No prepayment penalties

 

  • Loans above $350,000 are available under both options on a limited basis

These funds are available to eligible businesses located in Texas areas with active disaster declarations.

 

Free Specialized Support

Program Features:

  • One-on-one technical assistance

  • Support with business plans and loan readiness

  • Guidance on SBA disaster loans and other financing opportunities

  • Access to expert business advisors

Am I Eligible?

To qualify, your business must meet specific criteria. Learn more by reviewing the requirements and checking your eligibility:

  • Use this link to see if your business is in a Texas disaster-declared area
  • “Micro-business” means a corporation, partnership, sole proprietorship or other legal entity that:
    • is domiciled in this state and has at least 95% of its employees located in this state;
    • is formed to make a profit; and
    • employs not more than 20 employees.
    For micro-business borrowers to qualify, they must certify that they
    • are in good standing under the laws of this state; and
    • did not owe delinquent taxes to a taxing unit of this state before the date of the initial issuance of the disaster declaration.
    Loans may not be made to a micro-business that:
    • has total revenue that exceeds the amount for which no franchise tax is due under Texas Tax Code, Section 171.002 (d)(2);
    • is a franchise;
    • is a national chain with operations in this state;
    • is a lobbying firm; or
    • is a private equity firm or backed by a private equity firm.

Click Here to Apply

 

This program is possible thanks to the Texas Economic Development & Tourism Office within the Office of the Governor.

If you have questions or need assistance, our team is here to help. Contact Us.