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SBA: Disaster Loans Available For Small Business, Nonprofits

Last updated on Tuesday, July 31, 2012

(UNDATED) - Nonprofit groups and small businesses in Monroe and surrounding counties are among those eligible for federal economic injury disaster loans because of the drought, the U.S. Small Business Administration announced Friday.

The low-interest loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of all sizes located in 30 Indiana counties dealing with the results of the drought.

The loans may be used to pay fixed debts, payroll, accounts payable and other bills.
The SBA's latest disaster declaration includes Brown, Greene, Monroe, Morgan and Owen counties, for a drought that officially started July 10th. Greene, Monroe and Owen counties were approved for SBA Economic Injury Disaster Loans last week as a result of the drought.

The deadline for these counties to submit an application is March 12th, 2013.

Applicants may apply online using the Electronic Loan Application on SBA's website, https://disasterloan.sba.gov/ela. Disaster loan information and application forms may also be obtained by calling the SBA's Customer Service Center at 800-659-2955, or by emailing to disastercustomerservice@sba.gov. Loan applications can be downloaded from www.sba.gov.

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