SBA Disaster Loans for Indiana Storm, Tornado Recovery

Disaster news release
IN-20019-01

SBA Offers Disaster Relief to Indiana Businesses, Private Nonprofits, and Residents Affected by Severe Storm and Tornado

Low interest disaster loans now available Published on

April 14, 2026

by Office of Disaster Recovery & Resilience WASHINGTON — The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for Indiana businesses, private nonprofits, and residents affected by severe storms and tornadoes occurring on March 10-11. The SBA issued a disaster declaration in response to a request received from Gov. Mike Braun on April 7.

The declaration covers the Indiana counties of Benton, Jasper, Lake, LaPorte, Newton, Porter, Pulaski, Starke, and White as well as the Illinois counties of Iroquois and Kankakee which are eligible for both Physical Damage Loans and Economic Injury Disaster Loans (EIDLs) from the SBA.

Businesses and private nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

Applicants may also be eligible for a loan increase of up to 20% of their verified physical damage for mitigation purposes. Eligible mitigation improvements may include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

“When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”

SBA’s EIDL program is available to small businesses, small agricultural cooperatives, and private nonprofit (PNP) organizations with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills which could not be paid due to the disaster.

Interest rates are as low as 4% for businesses, 3.625% for PNPs, and 2.875% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

As of Saturday, April 11, SBA customer service representatives are available at the Disaster Loan Outreach Centers in the primary counties of Jasper and Newton to answer questions about SBA’s disaster loan program, explain the application process, and help individuals complete their application. Walk-ins are welcome, but you can schedule an in-person appointment in advance at appointment.sba.gov.

The DLOC hours of operation are listed below:

JASPER COUNTY

Disaster Loan Outreach Center (DLOC)

Wheatfield Town Hall

170 S. Grace St.

Wheatfield, IN 46392

Opened: Saturday, April 11, 2026

Hours: Monday – Friday, 9:00 a.m. to 6:00 p.m.

Saturday – 10:00 a.m. to 2:00 p.m.

Permanently Closing: Saturday, April 25 at 1:00 p.m.

NEWTON COUNTY

Disaster Loan Outreach Center (DLOC)

Newton County Public Library

9444 N. 315 W.

Lake Village, IN 46349

Opened: Saturday, April 11, 2026

Hours: Monday – Friday, 9:00 a.m. to 5:00 p.m.

Saturday – 9:00 a.m. to 1:00 p.m.

Permanently Closing: Saturday, April 25 at 12:00 p.m.

To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The filing deadline to return applications for physical property damage is June 8. The deadline to return economic injury applications is Jan. 11, 2027.

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

Related programs: Disaster

Media contacts

Karen Knapik Email Phone 404-331-0318