Officials from the U.S. Small Business Administration are opening a Business Recovery Center for Whiteland tornado survivors Friday.
Low-interest disaster loans from the SBA are available to businesses and residents in Indiana affected by the storms and tornadoes from March 31 through April 1. The recovery resource is being made available to all counties that were declared a disaster area following the fifth-largest tornado outbreak in the state’s history.
The federal agency is opening the Business Recovery Center at 9 a.m. on today at the Grace Assembly of God Church, 6822 S U.S Hwy 31 in Whiteland. SBA customer service representatives at the center can assist business owners and residents in filling out a disaster loan application, accept documents for existing applications and provide updates on an application’s status. The center will remain open Monday through Friday from 9 a.m. to 5 p.m. until further notice. It will also be open on Saturdays starting April 28, from 10 a.m. to 2 p.m.
Businesses and private nonprofit organizations of any size can borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
Disaster loans up to $200,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster-damaged or destroyed personal property.
Interest rates are as low as 4% for businesses, 2.375% for nonprofit organizations, and 2.375% for homeowners and renters, with terms of up to 30 years.
Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure website at disasterloanassistance.sba.gov/ela/s/ and should apply under SBA declaration # 17881.
To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.
Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955. People who are deaf, hard of hearing, or have a speech disability can dial 711 to access telecommunications relay services.
Loan applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is June 14. The deadline to return economic injury applications is Jan. 15, 2024.
For more information about the SBA’s loan offerings visit their website.
