09/08/2026
Hello,
We're sharing information about a new U.S. Small Business Administration disaster relief program that your business may be eligible for.
Following the President's major disaster declaration for Indiana on August 25, the U.S. Small Business Administration has opened low-interest disaster loans for businesses affected by the severe storms, straight-line winds, tornadoes, and flooding that began on August 11, 2026.
This is a federal SBA program, not a Bankable loan program. We are passing it along as a community resource because so many of our borrowers are located in the affected counties.
What is available for businesses
• Physical damage loans of up to $2 million to repair or replace damaged real estate, machinery, equipment, inventory, and other business assets.
• Economic Injury Disaster Loans (EIDLs): working-capital loans for small businesses that lost income because of the disaster, even if nothing was physically damaged. They can cover payroll, rent, fixed debts, and other bills that could not be paid because of the disaster.
• A possible loan increase of up to 20% of your verified physical damage for mitigation improvements, such as strengthening structures against high winds or adding a safe room or storm shelter.
• Interest rates as low as 4% for businesses, with terms up to 30 years. Interest and payments do not begin until 12 months after the first disbursement.
Who and where qualifies
Businesses in these primary counties are eligible for both physical damage and economic injury loans: Carroll, Dearborn, Decatur, Delaware, Fayette, Franklin, Hamilton, Hancock, Henry, LaPorte, Lake, Madison, Marion, Morgan, Porter, Pulaski, Randolph, Rush, Tipton, Union, and Wayne.
Businesses in counties adjacent to these are generally eligible for economic injury (working capital) loans only. The full list of adjacent counties, including some in Illinois, Kentucky, Michigan, and Ohio, is on the SBA notice. One exception to flag: the SBA does not offer these loans to farmers, ranchers, or other agricultural producers, except for aquaculture businesses.
Deadlines
• Physical damage applications: October 25, 2026
• Economic injury applications: May 25, 2027
How to apply
Apply online at sba.gov/disaster. You can also reach the SBA's Customer Service Center at (800) 659-2955 or [email protected]. If you are deaf, hard of hearing, or have a speech disability, dial 7-1-1 for relay services.
Sometimes loans like these can take time before you receive the resources you need. To bridge this gap, we can provide you with an express loan. You can email [email protected] or call us at (765) 356-9100 to learn more.
Wishing you and your business a steady recovery,
The Flagship Team