SBA's Disaster Loan Approvals Tops $1 Million

Indiana Applicants Urged to Visit Centers for Assistance

ATLANTA, April 9, 2012 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration approved more than $1 million in Disaster Assistance Loans for residents and business owners in Indiana affected by the severe storms, winds and tornadoes that occurred on Feb. 29 through Mar. 3, 2012.  Anyone with insured losses should not wait for an insurance settlement before applying to the SBA; instead they should apply as soon as possible.  The deadline to file an SBA disaster loan application for physical damage is May 8, 2012.

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SBA's disaster loans are a valuable resource to help individuals and businesses recover from the disaster. Disaster loan funds can help cover the uninsured costs of repairing and replacing damaged property and contents, and in the case of small businesses, economic injury funds are available for working capital needs as a result of the disaster.  

SBA Customer Service Representatives at each Center are available to help with the process; they can answer program questions, provide one-on-one assistance and assist with the completion of the application. The Centers are temporary and at the following locations:

Low-interest disaster loans for physical damages are available in: Clark, Jefferson, Ripley, Scott, Warrick and Washington counties in Indiana.

Interest rates are as low as 1.875 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.  The SBA sets the loan amounts and terms based on each applicant's financial condition.

For additional information, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to [email protected].  Loan application forms can be downloaded from the SBA's website at 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. 

Those affected by the disaster may also apply for disaster loans electronically from SBA's website at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical damage is May 8, 2012.  The deadline to return economic injury applications is December 10, 2012.

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Contact: Michael Lampton
Phone: (404) 331-0333

SOURCE U.S. Small Business Administration

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