The U.S. Small Business Administration encourages businesses, private nonprofit organizations, homeowners and renters whose properties sustained storm damage in mid-June to apply for a disaster loan for physical damage.
Anyone in the declared Indiana counties with damages caused by tornadoes, high winds and severe storms June 15 through 17 may apply. The declaration covers Monroe and the adjacent counties of Jackson, Brown, Greene, Lawrence, Morgan and Owen.
The loans are being made available in response to Gov. Eric Holcomb’s July 1 request for a disaster declaration. Eligible homeowners can receive up to $200,000 for a primary residence and $40,000 for personal property. Interest rates are as low as 1.938%, and repayment terms are 30 years.
Christopher Pilkerton, acting administrator of the SBA, said the federal agency’s highest priority is getting businesses and communities up and running after a disaster.
Applicants can apply online at disasterloan.sba.gov.
For information, call the SBA customer service senter at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or email [email protected]. Loan applications also may be downloaded at sba.gov.
The application deadline is Sept. 3.