From the Small Business Administration:
A team from the U.S. Small Business Administration (SBA) is in the area conducting outreach and engagement for disaster recovery for the severe storms and tornadoes, which occurred May 16th, 2025, in Greene and Monroe Counties and surrounding areas (#21112).
The SBA has low-interest disaster loans for homeowners, renters, private nonprofits, and businesses. The physical damage loan application deadline is July 29th, 2025.
SBA has a Disaster Loan Outreach Center operating at Ivy Tech Community College, Room B201, 200 Daniels Way, Bloomington, IN 47404. It is open Monday to Friday 8AM-5PM and Saturday 10AM-2PM. That center will be permanently closing at 3PM on Wednesday, June 18, 2025.
Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.
Important points about SBA low-interest Disaster Loans:
- No application fee.
- No obligation to accept the loan after it is approved. Applicants/Survivors have 60-days to decide to accept and can ask for more time if they need to reevaluate their recovery situation.
- No prepayment penalty.
- No accrued interest for first 12 months of the loan.
- No required payments for first 12 months of the loan.
Apply in person at a Recovery Center or apply online using the Electronic Loan Application (ELA) via the SBA’s secure website athttps://lending.sba.gov. The specific link for this declaration covering Monroe County:https://lending.sba.gov/search-disaster/?disaster=IN-20011.
In addition, SBA has an additional resource for all the counties included in the disaster declaration with our Economic Injury Disaster Loan program. SBA has low-interest Economic Injury Disaster Loans (EIDL) that do not require any physical damage by the borrower for private nonprofits and small businesses. The EIDL is a working capital loan to help pay for ordinary and necessary operating expenses to recover from revenue loss.
Applicants are encouraged to submit their loan applications promptly for review. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition.
The SBA team is available to attend meetings of organizations and give presentations/interviews across the disaster declaration area. Outreach and community engagement is their goal. If anyone has questions, please contact Stephen Clark, at the phone and email below.