Disaster Relief for Indiana Small Businesses Not Limited to Physical Damage

Many businesses that may be eligible for low-cost disaster assistance often do not seek it. Economic Injury Disaster Loans are available to businesses in 55 Indiana counties to mitigate the indirect impact the flooding and sever weather has had on those businesses and, ultimately, on Indiana's economy.

In addition to businesses in the 37 counties declared eligible for individual assistance, there are 32 more counties adjacent to those that are eligible for Economic Injury Disaster Loans. According to the SBA, Economic Injury Disaster Loans are offered to small businesses to help meet working capital needs caused by the disaster. Economic Injury Disaster Loans assistance is available regardless of whether the business suffered any physical property damage. Interest rates can be as low as 4 percent for businesses with terms up to 30 years.

These terms are often more attractive that what is available through traditional lenders or existing lines of credit. Indiana small businesses that may have other avenues for assistance would be wise to examine their eligibility for SBA Economic Injury Disaster Loans. The application is available online at:

http://www.sba.gov/services/disasterassistance/basics/howtoapply/index.html

Business advisors from Indiana Small Business Development Centers can assist with these applications. They have been available daily at disaster recovery centers since they opened, and have been assisting SBA and counseling small business owners directly affected by these storms. They will continue to be available in the weeks to come at those centers on a more limited basis, but are always available through the 11 ISBDC locations state-wide. For locations, see www.isbdc.org.

Counties Eligible for Physical and Economic Injury Disaster Loans from SBA:
Adams, Bartholomew, Brown, Clay, Daviess, Dearborn, Decatur, Gibson, Grant, Greene, Hamilton, Hancock, Henry, Huntington, Jackson, Jefferson, Jennings, Johnson, Knox, Lawrence, Marion, Monroe, Morgan, Owen, Parke, Pike, Posey, Putnam, Randolph, Ripley, Rush, Shelby, Sullivan, Vermillion, Vigo, Washington, Wayne

Adjacent Counties Eligible for Economic Injury Disaster Loans from SBA:
Allen, Blackford, Boone, Clark, Clinton, Crawford, Delaware, Dubois, Fayette, Floyd, Fountain, Franklin, Harrison, Hendricks, Howard, Jay, Madison, Martin, Miami, Montgomery, Ohio, Orange, Scott, Switzerland, Tipton, Union, Vanderburgh, Wabash, Warren, Warrick, Wells, Whitley