REGIONAL, Ind. – Businesses, nonprofits and residents in six area counties qualify for low-interest disaster loans following an Aug. 25 presidential disaster declaration.

The declaration covers several counties across Indiana including Fayette, Franklin, Henry, Randolph, Union and Wayne counties for damage from severe storms and flash flooding.

The U.S. Small Business Administration offers physical disaster loans of up to $2 million to businesses and private nonprofits to repair or replace damaged real estate, equipment, inventory and other assets.

Eligible small businesses and private nonprofits also may qualify for Economic Injury Disaster Loans to cover working capital expenses such as payroll, fixed debts and accounts payable. Physical damage is not required to qualify for an EIDL.

Homeowners may qualify for up to $500,000 to repair or replace a primary residence, while homeowners and renters may qualify for up to $100,000 for personal property.

Interest rates are as low as 4% for businesses, 3.625% for private nonprofits and 3% for homeowners and renters. Terms may extend up to 30 years.

The deadline to apply for physical damage assistance is Oct. 25, 2026. The deadline for economic injury assistance is May 25, 2027.

Agricultural producers generally are not eligible for SBA disaster loans, except for aquaculture enterprises. Farmers and ranchers may qualify for assistance through U.S. Department of Agriculture programs.