SBA approves Illinois flood disaster declaration

SBA loans can help repair or replace damaged or destroyed real estate. Homeowners and renters can apply for loans to repair or replace damaged or destroyed personal property. "

The U.S. Small Business Administration, SBA, has approved a request from Gov. JB Pritzker for a disaster declaration following one of the worst floods in Illinois history.  

Approval of the request was announced Friday, Nov. 15, by the governor.

The approved SBA disaster declaration makes low-interest loans available to homeowners, renters and businesses in Alexander, Jersey, Rock Island and Stephenson counties, as well as the contiguous counties of Jo Daviess, Winnebago, Carroll, Ogle, Whiteside, Henry, Mercer, Calhoun, Greene, Macoupin, Madison, Union and Pulaski.

SBA loans can help repair or replace damaged or destroyed real estate.  

Homeowners and renters can apply for loans to repair or replace damaged or destroyed personal property.  

Businesses and private non-profit organizations can apply for loans to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

“We are grateful to the U.S. Small Business Administration for its expedient approval of Illinois’ disaster declaration request.  These low-interest, long-term loans will be a tremendous help to many people who are still struggling to repair or replace their homes or businesses,” said Alicia Tate-Nadeau, the acting director of the Illinois Emergency Management Agency.  

“Meanwhile, our agency will meet with state and federal partners to identify additional resources or programs that may help the affected communities.”

The filing deadline to return applications for physical property damage is Dec. 9.

The deadline to return economic injury applications is July 10, 2020.  

Any individual or business needing additional information, or wanting to apply for a loan, is advised to contact the SBA Customer Service Center at 1-800-659-2955. 

Applicants can apply online using the Electronic Loan Application, ELA, on SBA’s secure website at DisasterLoan.sba.gov. 

Loan applications can also be downloaded from www.sba.gov/disaster. 

Completed applications are to be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, Texas 76155.

Disaster Loan Outreach Centers, DLOC, will be established throughout the state to provide a single point of contact for applicants to ask questions, get additional information and get help with the loan application process.  

The DLOC locations and hours of operation were to be announced this week.

For additional information and resources related to flood recovery, visit www.ready.illinois.gov.

 

 

The Gazette-Democrat

112 Lafayette St.
Anna, Illinois 62906
Office Number: (618) 833-2158
Email: news@annanews.com

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