SBA briefed commissioners on disaster loan programs available to tornado-affected households, renters, businesses and nonprofits

A representative from the Small Business Administration’s Office of Disaster Recovery and Resilience outlined federal loan programs available to counties affected by recent tornadoes and provided contact information and printed materials for residents.

The SBA representative said the agency offers physical-damage loans for homeowners (up to $500,000) and renters (up to $100,000 for personal property), and up to $2,000,000 for businesses and nonprofits to repair physical damage. The office also offers economic injury disaster loans to cover income losses, with similar maximums for eligible applicants. "All of our loans are low fixed rate interest rates … Terms up to 30 years. No payments or interest is accrued within the first 12 months," the representative said.

The presenter emphasized that applicants should "exhaust all your other options, apply for the loan, see what you get approved for" and that approved applicants do not have to accept the full amount offered. The representative offered to leave informational materials and contact cards with county staff and asked that county emergency management follow up to connect affected households with SBA assistance.

Commissioners acknowledged that Starke County was not among the hardest-hit counties but noted that isolated homesteads and nearby counties experienced more severe damage; the SBA representative said surrounding counties are also eligible and that the regional SBA team could help residents and businesses in those areas.

Next steps: The SBA representative left informational materials and contact details for distribution and asked residents who believe they may be eligible to contact the SBA or county emergency management.