Federal disaster relief is available for San Antonio residents and businesses affected by a storm that tore through the region over the summer. 

The Small Business Administration is offering loans to businesses and residents who had their property damaged on Aug. 28 after strong winds and rain downed trees and power lines caused widespread electricity outages.

The deadline to apply for loans for physical damages is Nov. 9. Those loans can help pay for damages to homes, businesses or personal property, including cars, according to SBA officials.

Businesses can also apply for economic injury disaster loans if they can demonstrate losses or financial harm from the storm. Those aren’t due until June 10, 2027.

The SBA has an online portal where residents from Bexar County and its neighbors — Atascosa, Bandera, Comal, Guadalupe, Kendall, Medina and Wilson counties — can apply. The agency also has in-person services at the Las Palmas Branch Library on Castroville Road, near the West Side where residents were particularly impacted by the sudden storm.

SBA officials in San Antonio said 86 loan applications have been received so far.

What are the loans?

The SBA offers loans for anyone in a disaster area, in this case Bexar County and surrounding counties, who can prove they had property damage through receipts, photos or other evidence.

Homeowners can receive loans up to $500,000 to cover damages to their primary home. Homeowners and renters can also receive up to $100,000 for damage to personal property. Businesses can receive up to $2 million for physical or economic damages.

For residents with no other option — whether they have low income, are cash-strapped or don’t have access to other lenders — interest rates are set at 3% for home loans and 4% for business loans.

Those with credit or money available elsewhere would pay a 6% interest rate for home loans and an 8% interest rate for business loans. Interest rates are fixed, meaning they won’t change year to year, and can be repaid over a period of up to 30 years.

The loans can be helpful in a variety of ways, said Sabrie Lika, an SBA public affairs specialist.

They might cover costs in the short term, for residents who are rebuilding before insurance payouts are finalized, Lika said. They also come with lower interest rates than credit card debt or other types of private loans. There are even relocation assistance options for people who have had their homes damaged. Those are handled on a case-by-case basis.

Lika added that there’s no cost to apply and no fees during the application process. The SBA has an online portal and an in-person center at the Las Palmas Branch Library. Mary Anne Bradfield, another public affairs specialist, encouraged residents to come out if they are interested in applying or have questions.

The SBA offers services in multiple languages, she added.

Applicants need a government ID, recent federal income tax return, insurance information and monthly financial information. Bradfield said that the list of monthly financial information would include income, expenses and debts owed by the applicant. This can be an estimate, she added, but is important to starting the process.

As long as applications are entered by Nov. 9, applicants can make their way through the loan process and have an opportunity to access the funds.

For economic injury loans, businesses must prove losses due to the Aug. 28 storm by comparing financial information from previous months. Those can help cover rent, payroll and inventory costs, Lika said.

Those applications are not due until 2027, but business owners can also get help at the Las Palmas Branch Library.

It might take several tries for applicants to get their loan approved, but loan officers work with residents to fill missing documents or requirements, Bradfield said.

SBA officials said the loans might not be for everyone — applicants have to share their credit history and show an ability to repay the loans. Others don’t want to take government loans or are worried about taking on debt.

“Our product isn’t intended for everyone,” said Gabriel Perales, an SBA Public Affairs Specialist from Texas. “But if you need assistance, we’re here.”

Other finance experts suggested making personal budgets when looking at disaster loans.

“For homeowners and renters considering a disaster loan, the key question is whether repayment fits their full financial picture, not just the immediate repair need,” said Audrey Downs, a spokesperson for the nonprofit GreenPath Financial Wellness, which offers free counseling to San Antonio residents. 

“Start by listing urgent expenses, expected insurance or assistance, income and ongoing bills, then build a realistic 60- to 90-day budget,” Downs added. “If borrowing is necessary, compare trusted, lower-cost options and avoid high-cost loans that can create longer-term financial strain.”

SBA disaster recovery loan interest rates are typically lower than other rates on the market.