People whose homes or belongings were damaged in Indiana’s June storms have until December 8, 2026 to apply for low-interest disaster loans from the U.S. Small Business Administration. The offer covers homeowners and renters in six Indiana counties and in Cook County, Illinois, which includes Chicago.

The U.S. Small Business Administration issued the declaration on October 9, and the Federal Register published it on October 15. It covers severe storms, tornadoes, straight-line winds and flash flooding from June 6 through June 26, 2026. James Stallings, the agency’s associate administrator for disaster recovery, signed it.

Which counties can apply for the Indiana storm loans?

The six Indiana counties named as primary disaster areas are Elkhart, Gibson, Harrison, Jefferson, Lake and Warrick. Cook County, Illinois, is listed in the declaration as a neighboring county, so it is part of the disaster area even though the storms were centered in Indiana.

A homeowner or renter in any of those places who still has storm damage to a house or belongings should decide now whether to apply, and should not wait for the December 8 date to get close. The declaration also lists other neighboring counties, so a household that does not live in one of the six should check the list before assuming there is no help.

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• Indiana: Clark, Crawford, Dubois, Floyd, Jasper, Jennings, Knox, Kosciusko, Lagrange, Marshall, Newton, Noble, Pike, Porter, Posey, Ripley, Scott, Spencer, St. Joseph, Switzerland, Vanderburgh and Washington.
• Illinois: Cook, Kankakee, Wabash, White and Will.
• Kentucky: Carroll, Daviess, Hardin, Henderson, Jefferson, Meade and Trimble.
• Michigan: Cass and St. Joseph.

Can a homeowner or renter still get a loan by December 8?

For damage to a home or belongings, the physical loan application deadline is December 8, 2026. The loans are open to homeowners and renters in the listed counties, and the damage has to trace back to the storms of June 6 through June 26. Renters are covered for their belongings, since the personal property loan is separate from the home repair loan.

The SBA’s disaster assistance page says homeowners may apply for up to $500,000 to replace or repair a primary residence. Renters and homeowners may borrow up to $100,000 to replace or repair personal property.

What the loans cost and when the first payment is due

The declaration sets the interest rate for homeowners at 2.875% for those without credit available elsewhere, and 5.750% for those with credit available elsewhere. The agency’s page says the first payment is deferred for 12 months, with no interest accruing during that time.

Which rate applies depends on whether the borrower can get credit elsewhere, and the two rates are almost three percentage points apart. A household that can obtain a regular loan or a home equity line pays the higher rate, while one that cannot pays the lower rate, so that question is worth answering honestly on the application.

The terms run up to 30 years with no prepayment penalty or fees, according to the SBA. For applicants who cannot get credit elsewhere, the page says the fixed rate will not exceed 4%, so the declaration’s 2.875% sits under that ceiling.

A loan is still a loan. It must be repaid, and the monthly payment on a large repair is a real cost for someone on a fixed income. That is why the year of deferral and the long term matter as much as the rate. A household should work out what it can afford to pay each month before borrowing the full amount available.

How to start an application before the deadline

People can apply online through the SBA’s disaster loan portal or call the agency’s customer service center at 800-659-2955. Anyone who prefers a face-to-face visit can schedule a time through the agency’s appointment page.

The agency’s broader disaster resources page explains the loan types and where to get help with an application. Secondary homes and vacation properties are not eligible, so the damaged property needs to be a primary residence or personal property. Anyone unsure should call the 800 number first and ask what documents to bring.

Business owners and nonprofits have a longer window

The December 8 date applies to physical damage. The declaration gives a separate deadline of July 9, 2027 for economic injury loans, which are for small businesses and private nonprofits that lost working capital, not for homeowners or renters.

A small landlord or a self-employed person with a home office may need both kinds of help, and should keep receipts, photos and repair estimates together before applying.

From the October 15 publication date to December 8 is about seven weeks, which is short for a household still waiting on an insurance adjuster or a contractor’s estimate. Repair quotes can take time to arrive, so starting the application early leaves room to add them.

Anyone close to the deadline should apply first and gather paperwork afterward. The physical damage deadline in the declaration is December 8, 2026, and the agency does not say it will extend that date for people who miss it.

Need to fix a storm-damaged home before the December 8 deadline?

A homeowner in one of the listed counties with a damaged roof or a wet basement has about seven weeks to apply, and a loan is only one possible source of repair money. Missing the date, or taking a loan before checking other help, can leave a household paying more than it had to.

The Senior Property Tax & Home-Cost Relief Kit pulls together heating, cooling and home-repair help for older homeowners, so a household can compare grants and programs with a loan before signing. Its Part 6 covers repairs, insurance and staying put, and Part 5 covers utilities and home costs.

Get the home-repair help checklist to compare with a storm loan before December 8 →

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This article was produced with AI assistance and edited for accuracy against the sources linked above.