U.S. SBA Disaster Loans Available For counties Affected By March/April Severe Storms

Business recovery center opening Friday in Johnson County.

The U.S. Small Business Administration (SBA) is offering low-interest disaster loans 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 to April 1.

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.

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. These centers are designed for businesses and not individual homeowners.

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.

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.

Apply online

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website and should apply under SBA declaration # 17881.

Business Recovery Center

A Business Recovery Center (BRC) will open at 9 a.m. on Friday, April 21, at the Grace Assembly of God Church in Johnson County. 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:

Grace of Assembly of God Church

6822 North US 31

Whiteland, IN 46184

Hours:

Monday to Friday

9 a.m. to 5 p.m.

Starting: Saturday, April 28

10 a.m. to 2 p.m.