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Storm damage disaster loan applications due

By Katy Szpak

Posted July 19, 2023

(George Hale)

Private non-profit (PNP) organizations in Indiana have until July 31 to apply for a disaster loan for damage caused from the storms March 31 through April 1. Organizations may borrow up to $2 million to fix any property that was affected by the storm.

According to a Small Business Association press release, PNPs located in Benton, Brown, Clinton, Johnson, Monroe, Morgan, Owen, Sullivan and White counties in Indiana are eligible to apply. Examples of non-profits listed in the release include food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

Organizations can apply for the loan through SBA’s website. Carl Dombek, public affairs specialist with the U.S. Small Business Administration, said businesses should see evaluations in about two to three weeks after filing an application.

There is also a broader working capital loan available to any business affected by the March 31 storms in 47 counties. The loan can be used in cases of not just physical damages, but also economic hardship resulting from the storms.

“For example, a business is on high ground but the road is washed out so nobody can get to it,” Dombek said. “They have no customers for a period of time, and that, of course, is going to have a financial impact.”

The deadline to file for the working capital loan is Jan. 15, 2024.