SBA reminding area small business/nonprofits that low interest loans still available

The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Indiana of the April 20 deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe storms and flooding occurring June 28 – July 2, 2025.

The disaster declaration covers the Indiana counties of Daviess, Dubois, Greene, Knox, Martin and Pike.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives and PNPs 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 available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

“SBA loans help eligible small businesses cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”