Small Business Administration update - City Council 9-16-25

During the City Council meeting in San Angelo on September 16, 2025, a representative from the Small Business Administration (SBA) provided an update on disaster recovery and resilience efforts following the July flooding. The SBA offers low-interest disaster loans to homeowners, tenants, businesses, and nonprofits affected by the disaster to repair or replace damaged property and to provide working capital. The loans have favorable interest rates, with home loans at 2.813% and business loans at 4%, and are designed to complement local banking services without causing disruption. The SBA also supports contiguous counties impacted by the disaster and provides accessible application processes through their website and call centers. The presentation emphasized the SBA's commitment to assisting the community's recovery through flexible financing options and outreach efforts.