(ANGOLA) - Small businesses and nonprofit organizations in northeast Indiana and neighboring parts of Ohio and Michigan have until Aug. 31 to apply for federal economic injury disaster loans related to the drought that began Sept. 30, 2025.
The U.S. Small Business Administration says eligible Indiana counties include Steuben, DeKalb, Allen, Adams and Jay.
Eligible Michigan counties are Hillsdale, Lenawee and Monroe. In northwest Ohio, eligible counties include Williams, Defiance, Fulton, Henry and Paulding, along with more than 20 other counties across the state.
The loans are available to small businesses, private nonprofit and faith-based organizations, small agricultural cooperatives and nurseries, and small aquaculture enterprises.
Economic Injury Disaster Loans provide working capital to help cover operating expenses affected by the drought. Applicants may qualify for up to $2 million.
Interest rates are as low as 4% for small businesses and 3.625% for private nonprofit organizations. Loan terms may extend up to 30 years. The SBA says no interest will accrue and no payments will be required during the first 12 months after the money is disbursed.
Applications can be submitted online through the SBA's disaster assistance website. Questions may be directed to the SBA Customer Service Center at 800-659-2955.
The application deadline is Aug. 31.