Low Interest Disaster Loans Available to Residents Following Severe Weather

Severe thunderstorms caused flooding in cities and towns across IN. Photo: Mike RhodesSevere thunderstorms caused flooding in cities and towns across IN. Photo: Mike Rhodes

By: Delaware County Indiana Emergency Management Agency—

Governor Mike Pence received word that the U.S. Small Business Administration (SBA) has made available low-interest disaster loans for those who suffered flood damage in 27 counties.

“June and July were difficult months for many Hoosier families and businesses,” said Governor Mike Pence. “These low-interest loans are important to help those who have suffered damage to homes, possessions, work buildings and other assets.”

Residents, businesses, and non-profit organizations in the following counties are eligible for these disaster loans. Those counties include Adams, Allen, Bartholomew, Blackford, Brown, Clark, Delaware, Grant, Hendricks, Huntington, Jackson, Jay, Jefferson, Jennings, Johnson, Marion, Monroe, Morgan, Owen, Putnam, Randolph, Ripley, Scott, Switzerland, Wabash, Wells and Whitley.

The Indiana Department of Homeland Security worked with U.S. SBA to secure the low-interest loans following the recurring thunderstorms that moved through much of Indiana in June and July.

How to Apply for SBA Loans

Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela/ .

The U.S. SBA plans on opening Disaster Loan Outreach Centers in Brown, Huntington, Jay, Jefferson and Morgan counties. Residents and business owners can ask questions and receive help with loan applications from SBA officials. IDHS will also have staff on hand to assist those in need. The locations and hours for each center will be announced soon.

Additional details on the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov.

For more information about the SBA’s Disaster Loan Program, visit http://www.sba.gov/disaster

Loan Amounts

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster damaged or destroyed personal property.

Businesses and private non-profit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.