Bloomington, Indiana – Some local residents and business owners are still cleaning up following the recent flooding in the Monroe County area. However, some of them are now eligible for extra help.
Beginning Friday, two Disaster Loan Outreach Centers will be open. One of them will be located at the Madison Area Chamber of Commerce in Jeffersonville, while the other one will be located at the Monroe County Convention Center in Bloomington. These centers are supported by the Small Business Administration and the Indiana Department of Homeland Security.
Both centers will be operational until July 16 and will be opened Monday – Friday 8 a.m.-5 p.m. and noon-5 p.m. Saturday. Sunday will be closed.
The centers are open to help those in need who suffered damages as a result of the recent flooding. Local residents and business owners will be eligible for loans through the SBA or the Indiana Disaster Relief Fund.
Everyone who will visit these centers will be required to wear a mask. Customer support representatives will provide the applicants with more information about the program and will help them with filling the applications.
Homeowners can apply for a total of $240,000. They can get $200,000 in loans to repair or replace damaged real estate and up to $40,000 to repair or replace damages personal belongings.
Business owners and non-profit organizations can get a loan up to $2 million. They can use these funds to repair or replace real estate, machinery, equipment and other business assets. Loan applications can be downloaded online and returned to the center or mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Homeowners and renters can loan funds with 1.625% interest rate, non-profit organizations will have to pay 2% interest rate, while business owners 2.88%.
The deadline to file an application for physical property damage is Sept. 7, 2021, while the deadline to return economic injury applications is April 7, 2022.
