(Greensburg, IN) – Greensburg City Council received an overview Tuesday night from Cynthia Woolbright with the U.S. Small Business Administration (SBA) of disaster relief loans and programs that remain available following the August severe storms and flooding.
Decatur County was listed as a primary county under the Presidential Disaster Declaration.
As a result, Woolbright says SBA assists affected businesses, nonprofits, homeowners and renters with recovery.
“For physical damage, we lend up to $500,000. For renters, we go up to $100,ooo,” Woolbright said. “For small businesses and nonprofits, we lend up to $2 million.”
Woolbright says the deadline for those who sustained physical damage to apply is October 25; businesses and nonprofits have until May 25 to apply for loans to ease economic injury.
“And there’s no interest, or no payment, for the first 12 months…so the first year, no payment that’s going to be due,” she said. “But at the 13th month, that’s when the first payment is going to be due.”
Woolbright adds there’s no penalty for pre-paying off loans.
If you have questions or still need to apply, visit SBA.gov/disaster, or call 800-659-2955.
