The Small Business Administration is offering low interest disaster loans to affected businesses and residents in Indiana after recent severe storms, winds and tornadoes. The SBA sent the following information Tuesday:
Disaster Field Operations Center East
Release Date: April 18, 2023 Contact: Michael Lampton (404) 331-0333
Release Number: 23-370, IN 17881/17882 Follow us on Twitter, Facebook, Blogs & Instagram
SBA Offers Disaster Assistance to Businesses and Residents of Indiana
Affected by Recent Severe Storms, Straight-Line Winds and Tornadoes
WASHINGTON – Low-interest disaster loans from the U.S. Small Business Administration (SBA) are
available to businesses and residents in Indiana following the announcement of a Presidential disaster
declaration due to damages from severe storms, straight-line winds and tornadoes from March 31
through April 1.
“SBA’s mission-driven team stands ready to help Indiana small businesses and residents impacted by
this disaster in every way possible under President Biden’s disaster declaration for certain affected
areas,” said SBA Administrator Isabella Casillas Guzman. “We’re committed to providing federal
disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and
communities recover and rebuild.”
The disaster declaration covers Allen, Benton, Clinton, Grant, Howard, Johnson, Lake, Monroe, Morgan,
Owen, Sullivan and White counties in Indiana, which are eligible for both Physical and Economic Injury
Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the
following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs):
Adams, Bartholomew, Blackford, Boone, Brown, Carroll, Cass, Clay, De Kalb, Delaware, Greene, Hamilton, Hendricks, Huntington, Jackson, Jasper, Knox, Lawrence, Madison, Marion, Miami, Montgomery, Newton, Noble, Porter, Pulaski, Putnam, Shelby, Tippecanoe, Tipton, Vigo, Wabash, Warren, Wells and Whitley in Indiana; and Clark, Cook, Crawford, Iroquois, Kankakee, Vermillion and Will in Illinois; Defiance, Paulding and Van Wert in Ohio.
Disaster survivors should not wait to settle with their insurance company before applying for a disaster
loan. If a survivor does not know how much of their loss will be covered by insurance or other sources,
SBA can make a low interest disaster loan for the total loss up to its loan limits, provided the borrower
agrees to use insurance proceeds to reduce or repay the loan.
A Business Recovery Center (BRC) will open at 9 a.m. on Friday, April 21, at the Grace Assembly of God
Church in Whiteland. SBA Customer Service Representatives at the Center will assist business owners
and residents in filling out a disaster loan application, accept documents for existing applications, and
provide updates on an application’s status. The center will operate as indicated below until further
notice:
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Business Recovery Center
Johnson County
Grace of Assembly of God Church
6822 North US 31
Whiteland, IN 46184
Opening: Friday, April 21, 9 a.m. to 5 p.m.
Hours: Monday to Friday, 9 a.m. to 5 p.m.
Starting: Saturday, April 28,
10 a.m. to 2 p.m.
Closed: Sunday
Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health
and safety of the public. All visitors to the BRCs are encouraged to wear a face mask.
Businesses and private nonprofit 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.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and
most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help
meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is
available regardless of whether the business suffered any physical property damage.
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.
Interest rates are as low as 4 percent for businesses, 2.375 percent for nonprofit organizations, and
2.375 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set
by the SBA and are based on each applicant’s financial condition.
Building back smarter and stronger can be an effective recovery tool for future disasters. Applicants
may be eligible for a loan amount increase of up to 20 percent of their physical damages, as verified by
the SBA, for mitigation purposes. Eligible mitigation improvements may include a safe room or storm
shelter, sump pump, elevation, retaining walls, and landscaping to help protect property and
occupants from future damage caused by a similar disaster.
“The opportunity to include measures to help prevent future damage from occurring is a significant
benefit of SBA’s disaster loan program,” said SBA Associate Administrator Francisco Sanchez, Jr. “I
encourage everyone to consult their contractors and emergency management mitigation specialists for
ideas and apply for an SBA disaster loan increase for funding.”
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
https://disasterloanassistance.sba.gov/ela/s/ and should apply under SBA declaration # 17881.
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To be considered for all forms of disaster assistance, applicants should register online at
DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable,
applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video
Relay Services should call 800-621-3362.
Disaster loan information and application forms can also be obtained by calling the SBA’s Customer
Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial
7-1-1 to access telecommunications relay services) or sending an email to
[email protected]. Loan applications can also be downloaded from sba.gov/disaster.
Completed applications should be mailed to: U.S. Small Business Administration, Processing and
Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is June 14, 2023. The deadline
to return economic injury applications is Jan. 15, 2024.
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About the U.S. Small Business Administration
Recently, U.S. SBA Administrator Isabella Casillas Guzman announced a policy change granting 12 months
of no payments and 0 percent interest. This policy change will benefit disaster survivors and help them to
decrease the overall cost of recovery by reducing the amount of accrued interest they must repay. Details
are available through the SBA Disaster Assistance Customer Service Center at 800-659-2955. Individuals
with verbal or hearing impairments may dial 7-1-1 to access telecommunications relay services from 8
a.m. to 8 p.m. ET, Monday to Friday, or email: [email protected].
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-
to resource and voice for small businesses backed by the strength of the federal government, the SBA
empowers entrepreneurs and small business owners with the resources and support they need to start,
grow or expand their businesses, or recover from a declared disaster. It delivers services through an
extensive network of SBA field offices and partnerships with public and private organizations. To learn
more, visit www.sba.gov.
