Deadline Approaches for Winter Storm Related SBA Disaster Loans

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The Federal Emergency Management Agency is reminding Texans about the important deadline to apply for financial assistance for damages caused by the winter freeze in February 2021.

According to FEMA, the deadline to apply for a low-interest disaster loan from the Small Business Administration is Thursday, May 20, 2021. Texas homeowners can apply for up to $200,000 to cover damages to their primary residence, if it was damaged in the winter storm.

Texas homeowners may even qualify for up to $40,000 to repair or replace personal property inside their primary residence if it was also damaged by the winter storm.

In order to apply for aide, you'll need access to your social security number, annual household income, contact information, insurance information, and bank account information.

In related news, the Texas House has just passed a proposal that would attempt to weatherize Texas power plants. House Bill 2000 is designed to help prevent rolling blackouts the state experienced in February’s historic winter storm in which more than 150 people lost their lives.

The bill would allocate more than $2 billion dollars for power generation companies to weatherize their equipment. The bill would also establish the State Utilities Reliability Fund to offer various forms of loans and funding for power companies across the state.

Those opposed to the bill say it unfairly uses taxpayer dollars to fund private power companies. Objectors say that power companies should be the ones to invest in themselves as a natural matter of doing business.

House Bill 2000 must now pass through the Texas Senate. According to one source, if it is passed, the bill would need to also be passed by Texas voters, since it apparently makes changes to the Texas Constitution.