On Apr. 4, SBA published administrative declaration of Indiana disaster
SBA made disaster aid available to IDNA tornado victims.SBA reported Economic injury disaster loan (EIDL) and physical damage aid up to $2 million to businesses, residents of Indiana affected by tornadoes on Mar. 14, 2024.
EIDLs are available to businesses to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Eligibility
Loans are available to businesses and residents in primary Randolph County and adjacent IDNA counties of Delaware, Henry, Jay and Wayne and Darke in Ohio.
For small businesses, agricultural cooperatives, businesses engaged in aquaculture and most private nonprofits, SBA offers EIDLs to help meet working capital needs.
EIDLs are available regardless of whether the business suffered any physical damage.
Loans up to $500,000 are available to homeowners to repair damaged real estate.
Homeowners, renters are eligible for loans up to $100,000 to repair personal property.
Applicants may be eligible for loan amount increase of up to 20% of 0hysical damages.
Eligible mitigation improvements may include a safe room or storm shelter, sump pump, or retaining wall to help protect property and occupants from future damage.
Deadlines
Filing deadline for physical property damage is May 28, 2024; for EIDLs Dec. 30, 2024.
