The U.S. Small Business Administration (SBA) is encouraging disaster loan recipients in Indiana to apply for additional funds to protect their homes and businesses from future storms.
Loan recipients have up to two years from their loan approval date to request an increase of up to 20% of their verified physical damages. These additional funds can be used to cover the cost of improvements aimed at reducing future storm damage.
Eligible mitigation projects may include regrading landscaping for better drainage, installing a French drain or sump pump, and strengthening structures to protect against high wind damage.
Chris Stallings, associate administrator of the SBA’s Office of Disaster Recovery and Resilience, highlighted the benefits of the program: “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage. I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s physical damage loans.”
For more information on mitigation options, visit sba.gov/mitigation. To apply online for additional disaster loan funds, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov. Individuals who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 to access telecommunications relay services.
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