08/31/2026
Disaster Loans Now Available
WASHINGTON — In response to a Presidential disaster declaration issued Aug. 25, the U.S. Small Business Administration announced the availability of low interest disaster loans for Indiana businesses, private nonprofit organizations, and residents affected by severe storms, straight-line winds, tornadoes, and flooding beginning Aug. 11.
The declaration covers Indiana primary counties of Carroll, Dearborn, Decatur, Delaware, Fayette, Franklin, Hamilton, Hancock, Henry, LaPorte, Lake, Madison, Marion, Morgan, Porter, Pulaski, Randolph, Rush, Tipton, Union, and Wayne, which are eligible for both physical damage loans and Economic Injury Disaster Loans from SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA EIDLs: Indiana counties of Bartholomew, Blackford, Boone, Brown, Cass, Clinton, Fulton, Grant, Hendricks, Howard, Jasper, Jay, Jennings, Johnson, Marshall, Monroe, Newton, Ohio, Owen, Putnam, Ripley, Shelby, St. Joseph, Starke, Tippecanoe, and White, and the Illinois counties of Cook, Kankakee, and Will, as well as the Kentucky county of Boone, and the Michigan county of Berrien, and the Ohio counties of Butler, Darke, Hamilton, and Preble.
Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.
Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.
The SBA’s Economic Injury Disaster Loan program is available to eligible small businesses, small agricultural cooperatives, and private nonprofits — including faith-based organizations — impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.
EIDLs are for working capital needs caused by the disaster and are available even if the business or private nonprofit did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills which could not be paid due to the disaster.
Interest rates are as low as 4% for businesses, 3.625% for private nonprofits, and 3% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA determines eligibility and sets loan amounts and terms based on each applicant’s financial condition.
“Through a presidential declaration, SBA provides financial assistance to help communities recover,” said Chris Stallings, Associate Administrator of the Office of Disaster Recovery and Resilience at SBA. “We offer disaster loans to homeowners, renters, businesses, and private nonprofits affected by the disaster.”
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.
The filing deadline for returning applications for physical property damage is Oct. 25. The deadline to return economic injury applications is May 25, 2027.
