FARMERSBURG, Ind. (WTWO/WAWV)— The United States Small Business Administration (SBA) is encouraging residents of the Hoosier state to take advantage of their disaster loans.
Loan recipients can apply for additional funds that can be used for future protection from storms. Those that received loans have up to two years from their approval date to request up to a 20% increase of their verified physical damages to cover the cost of improvements. Eligible mitigation projects can include landscaping for better drainage, installing a French drain or sump pump, or strengthening structures to protect against high wind damage.
“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “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.”
To learn more about the mitigation options, you can visit this link. To apply online, you can click here. You can also call the SBA’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Those who are deaf, hard of hearing, or have a speech disability can dial 711 to access telecommunications relay services.
