SOUTH-CENTRAL, Ind. – The U.S. Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for Indiana small businesses, private nonprofits, and residents affected by the severe storms and tornadoes on March 19.
The SBA issued a disaster declaration in response to Gov. Mike Braun’s request. The south-central counties of Bartholomew, Johnson, Jackson, Jennings, Decatur, Shelby, and Brown are now eligible for physical damage loans and Economic Injury Disaster Loans (EIDLs).
The Disaster Loan Outreach Center (DLOC) for the Small Business Administration (SBA) and State Disaster Relief Fund (SDRF) declaration for the above counties received for the March 19 tornado opens for two weeks beginning Monday, April 28, at 9 a.m.
The local DLOC office is in the United Way of Bartholomew County building, 1531 13th St., in Columbus. It serves Bartholomew and its contiguous counties (Johnson, Jackson, Jennings, Decatur, Shelby, and Brown) and will be available until Saturday, May 10. Starting on Tuesday, April 29, the hours are Monday through Friday, from 8 a.m. to 5 p.m., and Saturday, from 10 a.m. to 2 p.m. The local office permanently closes on Saturday, May 10, at 2 p.m.
Small businesses and private nonprofits can apply for business physical disaster loans. They 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 the 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.
