SBA Offers Additional Funds for Disaster Protection | Loan increases available for mitigation measures

The U.S. Small Business Administration (SBA) is encouraging disaster loan recipients in Indiana to apply for additional funds to protect their homes and businesses from future storms.

Loan recipients have up to two years from their loan approval date to request an increase of up to 20% of their verified physical damages to cover the cost of improvements. Eligible mitigation projects may include regrading landscaping for better drainage, installing a French drain or sump pump, and strengthening structures to protect against high wind damage.
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“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s physical damage loans.”

To learn more about mitigation options visit sba.gov/mitigation.

To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

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