Residents, businesses, and eligible nonprofit organizations in several northern Illinois counties can now apply for low-interest federal disaster loans following the severe storms and tornadoes that struck the region in June.
The U.S. Small Business Administration (SBA) has issued a disaster declaration for Bureau, Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, LaSalle, Lee, Livingston, Marshall, McHenry, Putnam, Will, and Woodford counties in Illinois, along with Lake County, Indiana.
The disaster declaration makes low-interest loans available to help individuals and businesses recover from storm-related damage. Homeowners may borrow up to $500,000 to repair or replace a damaged primary residence, while homeowners and renters may qualify for up to $100,000 to repair or replace personal property, including furniture, appliances, clothing, and vehicles. Businesses and eligible nonprofit organizations may borrow up to $2 million to repair damaged property or address disaster-related economic losses.
Residents and business owners who sustained damage from the June storms are encouraged to explore their eligibility and apply for assistance. For more information or to submit an application, visit sba.gov/disaster, call the SBA Customer Service Center at (800) 659-2955, or email disastercustomerservice@sba.gov.