Loans Available for Those Impacted by June Severe Weather

(Indianapolis, IN) – Gov. Mike Braun ‘s Office says the U.S. Small Business Administration (SBA) issued a disaster declaration for Indiana counties impacted by severe storms, tornadoes, straight-line winds, and flash flooding from June 6 through 26.

This opens access to low-interest loans for residents and business owners who incurred damage.

“Indiana has been hit hard this year by severe weather,” said Gov. Braun. “I remain committed to fighting for every Hoosier who has been impacted this year and am grateful to our federal partners for providing support to those who are still recovering from June’s severe weather impacts.”

Currently, Elkhart, Gibson, Harrison, Jefferson, Lake, and Warrick counties and the contiguous counties of Clark, Crawford, Dubois, Floyd, Jasper, Jennings, Knox, Kosciusko, LaGrange, Marshall, Newton, Noble, Pike, Porter, Posey, Ripley, Scott, Spencer, St. Joseph, Switzerland, Vanderburgh, and Washington are eligible for SBA loans.

Damage incurred outside of those dates is not eligible.

What types of disaster loans are available?

• Business physical disaster loans – Loans to businesses to repair or replace disaster-damaged property owned by the businesses, including real estate, inventories, supplies, machinery, and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
• Economic injury disaster loans – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
• Home disaster loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.