The U.S. Small Business Administration (SBA) announced on October 16, 2026, that low-interest federal disaster loans are available to Indiana businesses, private nonprofits and residents affected by the severe storms, tornadoes, straight-line winds and flash flooding of June 6-26, according to the SBA's official announcement. The SBA issued the disaster declaration in response to an October 9 request from Governor Mike Braun.

The declaration covers 28 Indiana counties — including Clark, Elkhart, Gibson, Harrison, Jefferson, Lake, Porter, St. Joseph, Vanderburgh and Warrick — as well as counties in Illinois (Cook, Kankakee, Wabash, White and Will), Kentucky (Carroll, Daviess, Hardin, Henderson, Jefferson, Meade and Trimble) and Michigan (Cass and St. Joseph), which are eligible for both physical-damage loans and Economic Injury Disaster Loans, the SBA said. Governor Braun said Indiana has been hit hard by severe weather this year and that he remains committed to fighting for every Hoosier impacted, thanking federal partners for the support.

Businesses and private nonprofits may borrow up to $2 million to repair or replace disaster-damaged real estate, machinery and equipment, inventory and other business assets. Homeowners may apply for up to $500,000 to repair or replace their primary residence, and homeowners and renters may borrow up to $100,000 for personal property such as clothing, furniture, cars and appliances. Applicants may also be eligible for a loan increase of up to 20 percent of their verified physical damage for mitigation, such as strengthening structures against high winds or installing a safe room or storm shelter.

Interest rates are as low as 4 percent for businesses, 3.625 percent for private nonprofits and 3 percent for homeowners and renters, with terms up to 30 years, according to SBA information reported by local outlets. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The filing deadline for physical-damage applications is December 8, 2026, and for economic-injury applications July 9, 2027. Disaster Loan Outreach Centers are open to help applicants at no cost, and applications can also be submitted through the MySBA Loan Portal.

In Marshall County, one of the covered counties, the SBA noted three tornadoes on June 11 and widespread severe wind damage on June 10 and 11. Chris Stallings, Associate Administrator of the SBA's Office of Disaster Recovery, said the outreach centers help business owners and residents apply and learn about the full range of recovery programs available.

Sources: U.S. Small Business Administration announcement, October 16, 2026; Governor Mike Braun's announcement via Giant FM; WAOV and WWBL reporting, October 16-18, 2026.