People affected by summer severe weather eligible to apply for low-interest, long-term loans to help with recovery
SPRINGFIELD, IL â€“ People and businesses in Grundy and Iroquois counties and seven neighboring counties now are eligible to apply for low-interest, long-term loans from the U.S. Small Business Administration (SBA) to help them recover from severe weather in June and July.
On Aug. 27, Governor Bruce Rauner submitted a request for SBA assistance after a recent damage assessment identified 36 homes and four businesses in Grundy County sustained major damages and had significant uninsured losses, while in Iroquois County, 18 homes, 10 businesses and one non-profit organization suffered major damages with significant uninsured losses.
To be eligible for an SBA declaration, at least 25 homes and/or businesses in a county must sustain uninsured losses of 40 percent or more.
â€œThe SBA declaration will bring much-needed help to people and businesses in these counties who are still trying to recover from this summerâ€™s severe weather,â€ Gov. Rauner said. â€œI also would like to thank members of the Illinois Congressional delegation for their strong support for the stateâ€™s request to the SBA.â€
Anyone affected by severe storms in June and July in Grundy and Iroquois counties and the contiguous counties of Ford, Kankakee, Kendall, LaSalle, Livingston, Vermilion and Will counties is now eligible to apply for a low-interest, long-term loan through the SBA.
More information about the disaster loan program and details about Disaster Loan Outreach Centers (DLOCs) in Watseka and Coal City will be announced by the SBA in the near future.