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SBA Disaster Loan Assistance

Disaster Loan Assistance


  • Under the EIDLP, small business owners are eligible to apply for a low-interest loan due to Coronavirus (COVID-19).
  • The SBA disaster loan is eligible to businesses, renters, and homeowners located in regions affected by declared disasters.
  • To determine if you are in a declared disaster region, you can click the link below.
  • For Kentucky, all counties are in the declared disaster region.
  • For Indiana, most counties are in the declared disaster region.

  • Interest Rates:  The interest rate is determined by formulas set by law and is fixed for the life of the loan. The maximum interest rate for this program is 3.75 percent.
  • Loan Terms:  The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.
  • Loan Amount Limit:  The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit. SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates. If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.
  • Refinancing:  Economic injury disaster loans cannot be used to refinance long term debts.
  • To start the loan process, click the link below: