Kokomo Tribune; Kokomo, Indiana

Local News

May 11, 2013

Feds start disaster loan process

Individuals and businesses can apply.

(Continued)

How to apply for SBA loans

Disaster loan information can be found on the U.S. Small Business Administration’s secure website at https://disasterloan.sba.gov/ela/.

Business loan applications can also be downloaded from the SBA website at www.sba.gov. Completed applications should be returned to a Disaster Loan Outreach Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Individuals and businesses can call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities), 8 a.m. to 6 p.m. Monday through Friday, or by sending an email to disastercustomerservice@sba.gov.

Loan Amounts

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and nonprofit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

Those suffering damage to personal or business property must return applications by July 9. The deadline to return economic injury applications — which include, for example, payroll, working capital and other business financial commitments — is Feb. 10, 2014. For more information contact SBA.

State Disaster Relief Fund

The Indiana State Disaster Relief Fund was established in 2003 to provide assistance to individuals who may not be eligible for federal disaster assistance, but met the state’s criteria for disaster relief. Grants of up to $5,000 may be available to eligible disaster victims. Fees from retail fireworks sales provide funding for this program.

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