SBA Disaster Loans Available in Indiana Following Secretary of Agriculture Disaster Declaration

ATLANTA, Nov. 8, 2011 /PRNewswire-USNewswire/ — The U.S. Small Business
Administration announces today that federal economic injury disaster loans are
available to small businesses, small agricultural cooperatives, small
aquaculture businesses and most private non-profit organizations of all sizes
located in several counties in Indiana as a result of drought and excessive heat
that began July 2, 2011.

(Logo: face="Arial">http://photos.prnewswire.com/prnh/20110909/DC65875LOGO)

These loans are available in the counties of Benton, Gibson, Knox, Newton,
Posey, Sullivan, Vermillion, Vigo and Warren in Indiana.

“These counties are eligible because they are contiguous to one or more primary
counties in Illinois. The Small Business Administration recognizes that
disasters do not usually stop at county or state lines. For that reason,
counties adjacent to primary counties named in the declaration are included,”
said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

“When the Secretary of Agriculture issues a disaster declaration to help farmers
recover from damages and losses to crops, the Small Business Administration
issues a declaration to assist eligible entities affected by the same disaster,”
said Skaggs.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is
available to eligible farm-related and nonfarm-related entities that suffered
financial losses as a direct result of this disaster. With the exception of
aquacultural enterprises, agricultural producers, farmers and ranchers are not
eligible to apply to SBA, but nurseries are eligible to apply for economic
injury disaster loans for losses caused by drought conditions.

Loan amounts can be up to $2 million, with interest rates of 3 percent for
non-profit organizations and 4 percent for small businesses. Terms can be up to
30 years. The SBA determines eligibility based on the size of the applicant,
type of activity and its financial resources. The agency sets loan amounts and
terms based on each applicant’s financial condition. These working capital loans
may be used to pay fixed debts, payroll, accounts payable, and other bills that
could have been paid had the disaster not occurred. The loans are not intended
to replace lost sales or profits.

Disaster loan information and application forms may be obtained by calling the
SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and
hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov. Loan
applications can be downloaded from the SBA’s website at www.sba.gov. Completed
applications should be mailed to: U.S. Small Business Administration, Processing
and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Those affected by the disaster may also apply for disaster loans electronically
from SBA’s website at https://disasterloan.sba.gov/ela/.

Completed loan applications must be returned to SBA no later than July 2, 2012.

For more information about the SBA’s Disaster Loan Program, visit our website at
www.sba.gov.

Contact: Michael Lampton
Phone: 404-331-0333

SOURCE U.S. Small Business Administration