Low Interest Loans for Storm Victims

A press release from McHenry County:

SBA Approves Tornado Assistance for Northern Illinois

People affected by April tornado eligible to apply for low-interest, long-term loans to help with recovery

SPRINGFIELD – People and businesses in DeKalb and eight other northern Illinois 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 the April 9 tornado.
On May 29, Governor Bruce Rauner submitted a request for SBA assistance after officials from the SBA, Illinois Emergency Management Agency (IEMA) and local officials surveyed damage and documented uninsured losses. That survey found 31 homes and seven businesses sustained major damages and had significant uninsured losses.

Bruce Rauner

Bruce Rauner

The SBA declaration will bring much-needed help to people and businesses still trying to recover from the tornado,” Gov. Rauner said.

“While this disaster didn’t rise to the level needed to seek federal assistance through FEMA, we’re able to offer these programs to assist communities as they work toward recovery.”

Anyone affected by the April 9 tornadoes in DeKalb County and the contiguous counties of Boone, Kane, Kendall, LaSalle, Lee, McHenry, Ogle and Winnebago 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 a Disaster Loan Outreach Center (DLOC) will be announced by the SBA in the near future.

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