By Dawn Burleigh

The Orange Leader

U.S. Small Business Administration (SBA) has approved $264,878, 300 for 2,907 loans approved for Orange County homeowners and businesses.

With a total of $750 million approved in Southeast Texas, to date, 25-35 percent of the funds were approved in the Golden Triangle area. Jefferson County has had $277 million approved in loans.

Loans with the Small Business Administration (SBA) is the largest source of funds for renters, homeowners, most private non-profits, and business of all sizes.

Interest rates for a homeowner or renter is 1.75%, no closing costs, no points, and first payment is due in a year. Churches can also apply for a loan at 2.5% interest rate.

The loans are 30-year fixed rate.

One is not required to accept the loan once approved.

However, once the decision has been determined on the loan and is denied, one may seek further assistance through FEMA through other need assistance programs.

For questions or help with U.S. Small Business Administration low-interest disaster loans call 800-659-2955, visit www.sba.gov/disaster, or email disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing may call 800-877-8339.

Edited: For clarification purposes.