SPRINGFIELD, Ill. (WCIA) – Governor JB Pritzker announced Monday that the U.S. Small Business Administration (SBA) approved the state’s request for assistance to help people and businesses in Ford County recover from severe storms and flash flooding happened in August.
“This disaster declaration will provide an additional level of support for the residents and businesses in east-central Illinois and I want to commend the U.S. Small Business Administration for their expedient response,” said Gov. Pritzker. “The State of Illinois will continue to deploy all resources at our disposal to aid Ford County and its residents as we ensure the region makes a full recovery.”
Officials said at least 104 homes and six businesses in Ford County were majorly damaged.
According to the Office of the Governor JB Pritzker, there are three types of loans available to storm survivors:
Physical Disaster Loans: Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventory, supplies, machinery and equipment.
Economic Injury Disaster Loans: Working capital loans to help small businesses, small agricultural cooperatives, and most private-nonprofits meet their ordinary and necessary financial obligations that cannot be met as a result of the disaster.
Home Disaster Loans: Loans to homeowners or renters to repair or replace disaster damaged real estate and personal property. SBA regulations limit home loans to $200,000 for the repair or replacement of real estate and $40,000 to repair or replace personal property.
A Disaster Loan Outreach Center (DLOC) will be established in Ford County to help storm survivors with the application process. The DLOC will be located at the Gibson City Fire Department on S. Lawrence Street. The center opens on Thursday and closes on September 9.
Applicants may apply online or call (800) 659-2955. Completed applications should be mailed to the following address:
U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road
Fort Worth, TX. 76155.