SBA Offers Disaster Relief to Indiana Small Businesses and Residents Affected by Severe Storms and Tornadoes

The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for Indiana small businesses, private nonprofits (PNP), and residents affected by severe storms and tornadoes occurring May 16. The SBA issued a disaster declaration in response to a request received from Governor Mike Braun on May 30.
The declaration covers the counties of Brown, Greene, Jackson, Lawrence, Monroe, Morgan and Owen which are eligible for both physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA.
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Small businesses and private nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.  ​

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