Houston Daily

Governor Greg Abbott has announced the availability of up to $5 million in funding through the Texas Micro-Business Disaster Recovery (MBDR) Loan Program. This initiative aims to provide loans from Community Development Financial Institutions (CDFIs) to micro-businesses affected by recent catastrophic flooding in areas where a disaster has been declared.

"The State of Texas continues to deploy all available resources and support to help Texas families and businesses devastated by recent flooding to recover and rebuild," said Governor Abbott. "I invite all community development financial institutions to immediately apply to participate in our Texas Micro-Business Disaster Recovery Loan Program to help provide loans to qualifying micro-businesses as they work to rebuild after the tragic floods. We will help every impacted community and business until the job is done."

The program, administered under the Governor's Texas Economic Development & Tourism Office, offers zero-interest loans for eligible CDFIs aimed at assisting micro-businesses with no more than 20 employees that struggle with accessing capital following a disaster declaration. Interest and fees from these loans remain with the participating financial institution.

Approved CDFIs are listed on gov.texas.gov/uploads/files/business/MBDR_Participants.pdf. Micro-businesses can also contact their preferred CDFI for participation encouragement. A list of CDFIs in Texas is available at cdfifund.gov/programs-training/certification/cdfi. More information about eligibility, application details, and resources can be found at mbdr.gov.texas.gov.