SBA loans available for Indiana flood victims

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The Small Business Administration will make low-interest disaster loans available to flood victims in affected Indiana counties.

Governor Mike Pence, along with members of Indiana's congressional delegation, put in a request for assistance.

Grant, Howard and Tipton Counties are eligible. Residents, businesses and non-profit organizations in neighboring counties would also be eligible for these disaster loans. Those counties include Blackford, Carroll, Cass, Clinton, Delaware, Hamilton, Huntington, Madison, Miami, Wabash and Wells.

Howard, Tipton and Grant Counties were declared ineligible for FEMA assistance, but they qualify for the SBA loans.

How to Apply for SBA Loans

Disaster loan information can also be completed on SBA's secure website.

Business loan applications can also be downloaded from the SBA website. Completed applications should be returned to a Disaster Loan Outreach Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Individuals and businesses can call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities), Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail here. 

Loan Amounts

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Those suffering damage to personal or business property must return applications by July 9, 2013. The deadline to return economic injury applications - which includes, for example, payroll, working capital and other business financial commitments - is February 10, 2014. For more information contact SBA.

State Disaster Relief Fund

The Indiana State Disaster Relief Fund was established in 2003 to provide assistance to individuals who may not be eligible for federal disaster assistance, but met the state's criteria for disaster relief. Grants of up to $5,000 are available to eligible disaster victims. Fees from retail fireworks sales provide the funding for this program.