Indiana Governor Holcomb has taken the necessary first steps to making the SBA Economic Injury Disaster Loans available to Indiana small businesses by declaring a disaster and the SBA has opened its portals for submission of applications for assistance. Information on how to apply can be found at www.sba.gov/disaster.
This program has the following features:
Can provide low-interest loans of up to $2M to businesses and private non-profits;
Funds may be used to pay fixed debts, payroll, accounts payable, and other bills;
The interest rate is 3.75% for small businesses without credit available elsewhere and the interest rate for non-profits is 2.75%;
These loans have long-term repayment options, up to a maximum of 30 years.
If additional help is needed you may call the SBA's Disaster Customer Service Center at 800-659-2955 or email email@example.com.