• Title

  • SBA Offers Disaster Assistance to Indiana Small Businesses Economically Impacted by the Coronavirus

    ATLANTA – The U.S. Small Business Administration is offering low-interest federal disaster loans for
    working capital to Indiana small businesses suffering substantial economic injury as a result of the
    Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its
    own authority, as provided by the Coronavirus Preparedness and Response Supplemental
    Appropriations Act that was recently signed by the President, to declare a disaster following a request
    received from Gov. Eric J. Holcomb on March 17, 2020.

    The disaster declaration makes SBA assistance available in the entire state of Indiana; and the
    contiguous counties of Clark, Cook, Crawford, Edgar, Gallatin, Iroquois, Kankakee, Lawrence,
    Vermilion, Wabash, White and Will in Illinois; Boone, Breckinridge, Carroll, Daviess, Gallatin, Hancock,
    Hardin, Henderson, Jefferson, Meade, Oldham, Trimble and Union in Kentucky; Berrien, Branch, Cass,
    Hillsdale and Saint Joseph in Michigan; and Butler, Darke, Defiance, Hamilton, Mercer, Paulding,
    Preble, Van Wert and Williams in Ohio.

    “SBA is strongly committed to providing the most effective and customer-focused response possible
    to assist Indiana small businesses with federal disaster loans. We will be swift in our efforts to help
    these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said
    Administrator Carranza.

    SBA Customer Service Representatives will be available to answer questions about SBA’s Economic
    Injury Disaster Loan program and explain the application process.

    “Small businesses, private non-profit organizations of any size, small agricultural cooperatives and
    small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus
    (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to
    help meet financial obligations and operating expenses which could have been met had the disaster
    not occurred,” said Carranza.

    “These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be
    paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small
    businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.

    Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus
    (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-
    profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep
    payments affordable, up to a maximum of 30 years and are available to entities without the financial
    ability to offset the adverse impact without hardship.

    Applicants may apply online, receive additional disaster assistance information and download
    applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer
    Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more
    information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call
    (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration,
    Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

    The deadline to apply for an Economic Injury Disaster Loan is Dec. 18, 2020.

    For more information about Coronavirus, please visit: Coronavirus.gov.

    For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.


    About the U.S. Small Business Administration
    The U.S. Small Business Administration makes the American dream of business ownership a reality. As
    the only go-to resource and voice for small businesses backed by the strength of the federal
    government, the SBA empowers entrepreneurs and small business owners with the resources and
    support they need to start, grow or expand their businesses, or recover from a declared disaster. It
    delivers services through an extensive network of SBA field offices and partnerships with public and
    private organizations. To learn more, visit www.sba.gov.