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Deadline in June for SBA Personal Loans in Indiana

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The U.S. Small Business Administration (SBA) is reminding businesses in Indiana that capital personal loans are still available, but that deadline is fast approaching.

Small businesses, small agricultural cooperatives and many private non-profits that were affected by storms, hail, tornadoes and floods between April 3 and June 15, 2011 are free to apply for an SBA personal loan. These Economic Injury Disaster Loans, or EIDLs as the SBA calls them, will be offered to those who apply before the June 12 deadline.

The EIDLs are available for amounts of up to $2 million at a 3 percent interest rate for non-profits, and 4 percent for small businesses. The terms on these personal loans can be for up to 30 years.

“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the June 12 deadline,” said Frank Skaggs, director of SBA Field Operations Center East, in a press release.

The EIDLs are available in three states: Indiana, Illinois and Kentucky.

The counties eligible for one of these personal loans in Indiana are Bartholomew, Brown, Decatur, Franklin, Gibson, Greene, Jackson, Jennings, Knox, Lawrence, Monroe, Morgan, Owen, Pike, Posey, Ripley, Rush, Shelby, Warrick and Vanderburgh Counties.

Those eligible in Illinois are Gallatin, Wabash and White.

Finally those eligible in Kentucky are Henderson and Union.

To apply for an SBA disaster loan, applicants can call SBA’s Customer Service Center at 800-659-2955, or they may send an email to disastercustomerservice@sba.gov. Physical application forms may be downloaded and princted from the SBA’s website. All physical applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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