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Indiana Gets SBA Approval For Disaster Funds

After two rejections from FEMA, Indiana will receive relief funds from the Small Business Administration for severe weather damage in early August.The SBA will make low-interest loans available for residents of 11 Indiana counties; including Clark, Floyd and Harrison. Applicants can receive up to 200 thousand dollars for damaged real estate and 40 thousand dollars for personal property.The state did not qualify for relief funds from FEMA, and unlike FEMA grants, the SBA money will have to be paid back. Indiana Department of Homeland Security Rachel Meyer says it's preferable to no assistance at all."Obviously I'm sure they would prefer to have the grants, but low interest loans are better than nothing, I guess," she says.The applications for physical property damage is January 5th. The deadline for economic injury is August.SBA offices will open in Clark and Floyd counties Friday at the following locations:Clarksville Town Hall2000 Broadway, 2nd floor conference room.Floyd County Emergency Management1613 Spring St., Suite 4New Albany

Gabe Bullard is the director of news and editorial strategy.