ATLANTA – The U.S. Small Business Administration is reminding businesses in Indiana that Economic Injury Disaster Loans (EIDLs) are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations affected by heavy rainfall and flooding on June 27, 2020. The application deadline is May 11.
“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the May 11 deadline,” said Kem Fleming, director of SBA Field Operations Center East.
The declaration covers the counties of Benton, Jasper, Lake and Newton in Indiana; and the counties of Iroquois and Kankakee in Illinois.
Working capital loans up to $2 million are available at 3 percent for small businesses and 2.75 percent for private nonprofit organizations, with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, eligible entities need to apply by the deadline.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov and should apply under SBA declaration # 16576, not for the COVID-19 incident.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to DisasterCustomerService@sba.gov. Loan applications can 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 deadline to return economic injury applications is May 11, 2021.