Disaster loans available from winter flooding

2018-05-12

WASHINGTON – Several area counties are eligible for assistance following flooding from February 14th to March 4th. The disaster declaration includes Elkhart County, which is eligible for both Physical and Economic Injury Disaster Loans from the SBA.

Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: including Lagrange and Noble Counties in Indiana; and Cass and Saint Joseph in Michigan.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.gov. The filing deadline for physical property damage is July 5, 2018. The deadline to return economic injury applications is Feb. 5, 2019.

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