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Last updated on Wednesday, June 14, 2017
(INDIANAPOLIS) - Governor Eric J. Holcomb announced the availability of low-interest disaster loans for Washington and the surrounding counties following spring flooding in southern Indiana.
Washington County qualified for the low-interest disaster loans and, as a result, the contiguous counties of Clark, Crawford, Floyd, Harrison, Jackson, Lawrence, Orange and Scott are also eligible.
"The low-interest disaster loans are a crucial step in the process of recovering from severe spring weather," Gov. Holcomb said. "It is my hope that the citizens and businesses in these counties are able to fully recover in an efficient manner."
The loans are available to residents, businesses and non-profit organizations through the U.S. Small Business Administration.
Loan Amounts - Businesses and Organizations
Businesses and private non-profit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of all sizes, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. These loans are available regardless of whether the business suffered any physical property damage.
Loan Amounts - Citizens
Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster damaged or destroyed personal property.
How to Apply
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela/.
Applications and program information are available 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 disastercustomerservice@sba.gov. Loan applications can also be downloaded from the SBA's website at www.sba.gov/disaster. Completed applications should be mailed to:
U.S. Small Business Administration, Processing and Disbursement Center
14925 Kingsport Road, Fort Worth, TX 76155.
Deadlines to Apply
The filing deadline to return applications for physical property damage is August 11, 2017. The deadline to return economic injury applications is March 12, 2018.
For more information about the SBA's Disaster Loan Program, visit http://www.sba.gov/disaster.
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