INDIANAPOLIS (August 15, 2008) - Governor Mitch Daniels today received word that the U.S. Small Business Administration (SBA) has approved his request for disaster financial assistance for Lake County. The same benefits will be available to the adjacent counties of Porter, Jasper and Newton.

The request for SBA assistance stems from damage sustained to homes and businesses as a result of severe storms, flooding, high winds and a tornado that occurred on August 4.

With the approval from SBA, low-interest loans of up to $200,000 are available to homeowners. In addition, up to $40,000 may be available to homeowners and renters to repair or replace damaged personal property. In both cases, the SBA disaster loans can be made only for damage not covered by insurance.

Businesses and private non-profit organizations that sustained property damage from the storms can receive up to $2 million. For businesses only, the SBA offers Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by storm damage. Economic Injury Disaster Loans are available regardless of whether the business suffered any physical property damage.

Homeowners or businesses who wish to apply for a loan or have questions concerning the SBA Disaster Loans can contact the SBA's Disaster Assistance Customer Service Center at 800-659-2955, go to file:///C:/Documents%20and%20Settings/joerickson/Local%20Settings/Temporary%20Internet%20Files/OLK17/www.sba.gov.

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