News Summary
Governor Greg Abbott has announced a new funding opportunity for Texas micro-businesses impacted by catastrophic flooding through the Texas Micro-Business Disaster Recovery Loan Program. This initiative offers up to $5 million in zero-interest loans to help small businesses recover. With funding available until August 2025, community development financial institutions are encouraged to assist micro-businesses in navigating this crucial aid. As severe weather continues to affect the region, local authorities prioritize safety while supporting economic resilience.
Texas Governor Greg Abbott has announced the allocation of up to $5 million to support micro-businesses adversely affected by recent catastrophic flooding across the state. The funds will be disbursed through the Texas Micro-Business Disaster Recovery (MBDR) Loan Program, aimed at aiding communities impacted by flooding events declared as disasters at any local, state, or federal level.
During the announcement, Abbott reiterated the state’s commitment to providing assistance to Texas families and businesses struggling in the aftermath of these flooding disasters. The initiative seeks to alleviate the financial pressures faced by micro-businesses as they navigate challenges in accessing capital during recovery.
The Texas MBDR Loan Program, managed by the Governor’s Texas Economic Development & Tourism Office, will offer zero-interest loans to community development financial institutions (CDFIs) that assist micro-businesses with 20 or fewer employees. CDFIs are encouraged to participate in the program to provide relief to eligible micro-businesses. The program will be available until August 31, 2025, allowing ample time for businesses to take advantage of this funding.
As part of the initiative, any interest and fees accrued from loans provided by participating CDFIs will be retained by the financial institutions, thus promoting continued growth and support for local micro-enterprises. Businesses interested in the program should reach out to their chosen CDFI to enhance the opportunity for participation.
Current Flood Conditions in Texas
The announcement comes at a critical time when several areas in Texas, particularly the Hill Country, are experiencing severe weather, including flash flooding. Counties such as Gillespie, Llano, Burnet, Hays, Blanco, Travis, and Williamson have been issued with flash flood warnings due to excessive rainfall.
As of July 13, the National Weather Service (NWS) reported a dramatic rise of 33 feet in the Lampasas River in just four hours. Following this, up to 6 inches of rain accumulated in Lampasas County by early Sunday morning. In response to the imminent danger, mandatory evacuations were ordered in areas south of the San Saba River, east of Highway 16, and north of Highway 190.
Local authorities have been working diligently to mitigate the impact of flooding, implementing temporary solutions for road access and enhancing safety measures for residents. The ongoing weather conditions have prompted safety advisories, with officials warning against flooded roads and reminding drivers of the cautionary phrase: “Turn around, don’t drown.”
Infrastructure and Safety Challenges
Communities across Central Texas have faced extensive road closures due to flooding, resulting in many normally passable roads becoming impassable. The infrastructure damage has been significant, with local emergency services managing rescues and evacuations of affected residents. Reports indicate over 80 fatalities in the region, with ongoing operations to locate and assist missing individuals.
In light of the crisis, Travis County has instituted a ban on recreational use of waterways due to the hazards present in the floodwaters. As officials in the region continue to respond to the emergencies, the Austin Firefighters union has expressed dissatisfaction with the delayed deployment of firefighters to assist flooded areas, indicating ongoing concerns about the adequacy and efficiency of emergency response efforts.
The combination of severe flooding and economic setbacks makes the MBDR Loan Program a pivotal step in supporting affected micro-businesses to recover and rebuild. With the assistance of CDFIs, this funding initiative aims to foster long-term resilience in the face of natural disasters, ensuring that local businesses can continue to thrive as Texas navigates through these challenging times.
Deeper Dive: News & Info About This Topic
- Fox 7 Austin: Weather Forecast
- Fox 7 Austin: Texas Flooding Detour
- Austin Monthly: Donations for Flood Victims
- Wikipedia: Flood
- Google Search: Texas Flooding 2025
Author: STAFF HERE COLLEGE WRITER
The COLLEGE STATION STAFF WRITER represents the experienced team at HERECollegeStation.com, your go-to source for actionable local news and information in College Station, Brazos County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Brazos Valley Fair & Rodeo, Chilifest, and Aggie Muster. Our coverage extends to key organizations like the Bryan-College Station Chamber of Commerce and United Way of the Brazos Valley, plus leading businesses in education, biotechnology, and retail that power the local economy such as Texas A&M University, Fujifilm Diosynth Biotechnologies, and H-E-B. As part of the broader HERE network, including HEREAustinTX.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
