The U.S. Small Business Administration (SBA) is urging disaster loan recipients in Indiana to apply for additional funds aimed at protecting their properties from future storms. The SBA offers an opportunity for loan recipients to request an increase of up to 20% of their verified physical damages within two years from the loan approval date, allowing them to cover the costs of improvements.
Eligible mitigation projects include regrading landscaping for improved drainage, installing a French drain or sump pump, and strengthening structures against high wind damage. Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA, stated: “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage.” He encourages businesses and homeowners to collaborate with contractors and mitigation professionals to enhance their storm readiness using SBA's physical damage loans.
For more information on mitigation options, individuals can visit sba.gov/mitigation. Applications can be submitted online at sba.gov/disaster. Further inquiries can be directed to SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Telecommunications relay services are available by dialing 7-1-1 for those who are deaf, hard of hearing, or have a speech disability.
The U.S. Small Business Administration supports small businesses by providing resources necessary for starting, growing, expanding businesses or recovering from declared disasters through its extensive network.