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[IDHS] More Indiana Counties Eligible for SBA Economic Injury Disaster Loans for Drought
Start Date: 7/26/2012
End Date: 7/26/2012
Entry Description
ATLANTA – The U.S. Small Business Administration has announced another round of low interest disaster loans are available for more Indiana counties, bringing the total amount of Hoosier counties eligible for federal assistance to 74.

The SBA announced today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in 30 Indiana counties as a result of drought that began on July 10, 2012.

The SBA’s latest disaster declaration includes the following counties: Bartholomew, Boone, Brown, Clay, Clinton, Decatur, Fountain, Greene, Hamilton, Hancock, Hendricks, Henry, Jackson, Jennings, Johnson, Lawrence, Madison, Marion, Monroe, Montgomery, Morgan, Owen, Parke, Putnam, Rush, Shelby, Sullivan, Tipton, Vermillion and Vigo in Indiana. Businesses must complete a loan application and return it to the SBA no later than March 18, 2013.

The following counties were approved for SBA Economic Injury Disaster Loans last week as a result of drought that began on June 19, 2012: Adams, Allen, Blackford, Carroll, Cass, Clay, Clinton, Crawford, Daviess, DeKalb, Delaware, Dubois, Elkhart, Fulton, Gibson, Grant, Greene, Harrison, Howard, Huntington, Jackson, Jasper, Jay, Knox, Kosciusko, LaGrange, La Porte, Lawrence, Madison, Marshall, Martin, Miami, Monroe, Noble, Orange, Owen, Perry, Pike, Posey, Pulaski, Spencer, St. Joseph, Starke, Steuben, Sullivan, Tippecanoe, Tipton, Vanderburgh, Vigo, Wabash, Washington, Warrick, Wells, White and Whitley. The deadline for these counties to submit a loan application to the SBA is March 12, 2013.

Several counties are included in both disaster declarations. They may apply for loans from both disasters. Those counties include: Clay, Clinton, Greene, Jackson, Lawrence, Madison, Monroe, Owen, Sullivan, Tipton, and Vigo.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities affected by the same disaster,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.


SBA Economic Injury Disaster Loans

The loan amount can be up to $2 million with interest rates of 3 percent for private non-profit organizations of all sizes and 4 percent for small businesses, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov. Loan applications can be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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Media Contact
U.S. SBA: Michael Lampton, 404-331-0333
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Entry Type:
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Entry Category:
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  • IN.gov Category:
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  • Agency Name
    Homeland Security, Indiana Department of

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