Indiana and Ohio residents preparing for tornado recovery (Photo: The Columbus Dispatch)

SBA offers an increase in disaster assistance loans to businesses and residents devastated by disasters

According to a published article from WIN 104.9 Radio, Indiana residents have been given the go-ahead for disaster aid following the late-March tornadoes across the country.

To lessen potential harm, the U.S Small Business Administration still has time to raise disaster assistance loans.

Residents and businesses in Indiana who were granted disaster assistance loans as a result of the severe storms, straight-line winds, and tornadoes that occurred on March 31 and April 1 have two years from the date of loan approval to ask for an increase to lessen or prevent damage from future disasters.

Using SBA mitigation money allows survivors to build better and make investments that safeguard both life and property using disaster assistance loans.

Disaster assistance loans are increased by SBA to prevent future damages

To pay the cost of mitigation modifications, businesses and homes may be eligible for an increase in disaster assistance loans of up to 20% of their actual physical damages, as determined by the agency.

Hurricane-rated garage doors, hurricane shutters, or pressure-rated windows are a few examples of mitigating upgrades.

3 people are killed as tornadoes and thunderstorms strike the South and Midwest (Photo: NBC News)

A safe room or storm shelter designed by Federal Emergency Management Agency standards can also be installed using mitigation.

Call 800-659-2955 or go to sba.gov/mitigation for further details.

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