IN 13569 - SBA Offers Disaster Assistance to Indiana Residents Affected by Severe Storms and Flooding

WASHINGTON – Indiana residents and businesses affected by severe storms and flooding on April 17-23, can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Karen G. Mills announced today.
Administrator Mills made the loans available in response to a letter from Gov. Michael R. Pence on May 7, requesting a disaster declaration by the SBA.  The declaration covers Grant, Howard and Tipton counties in Indiana and the adjacent counties of Blackford, Carroll, Cass, Clinton, Delaware, Hamilton, Huntington, Madison, Miami, Wabash and Wells.
“The SBA is strongly committed to providing the people of Indiana with the most effective and customer-focused response possible to assist homeowners, renters, and businesses of all sizes with federal disaster loans,” said Administrator Mills.  “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
“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,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.  SBA’s customer service representatives are available at the Disaster Loan Outreach Centers to answer questions about the disaster loan program, explain the process, issue and help individuals complete their applications.
The Centers are located in the following communities and are open as indicated:
SBA Disaster Loan Outreach Centers
All centers open Tuesday, May 14 at 9 a.m.
Hours: 9 a.m. to 6 p.m., weekdays; 8 a.m. to 12 p.m., Saturday, May 18
Grant County
Marion City Hall
301 South Branson Street
Marion, IN 46952
Closes:  Thurs., May 23 at close of business
Howard County
Howard County Alternate EOC
627 South Berkley Road
Kokomo, IN 46901
Closes:  Thurs., May 23 at close of business
Madison County
The Closed Water Company Office
1139 N. Anderson Street
Elwood, IN 46036
Closes:  Wed., May 22 at close of business
Tipton County
Tipton County Courthouse
101 East Jefferson
Tipton, IN 46072
Closes:  Thurs., May 23 at close of business
“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,” said Gail Gesell, SBA’s Indiana district director.
The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are as low as 1.688 percent for homeowners and renters, 2.875 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.  Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
Individuals and businesses unable to visit one the Centers may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by sending an email to Loan applications can also be downloaded from the SBA’s website at Completed applications should be returned to a Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is July 9, 2013.  The deadline to return economic injury applications is February 10, 2014.
Release Number: 
Release Date: 
Friday, May 10, 2013 - 4:00am
Michael Lampton
Related State: 
Field Operations Center: