Low Interest loans available for flood recovery

Springfield – People and businesses affected by the February floods in Iroquois, Kankakee and Vermillion Counties now have a new tool available to help with recovery efforts, as the US Small Business Administration (SBA) has approved the state’s request for assistance, according to State Senator Jason Barickman (R-Bloomington).

“This is good news that could make a real difference as families and businesses work to rebuild,” said Sen. Barickman. “I would like to thank the Governor for his work to get this assistance approved for the people of these counties.”

People and businesses in those three counties, plus the surrounding counties of Champaign, Douglas, Edgar, Ford, Grundy, Livingston, and Will are eligible to apply for low interest, long-term loans to assist with recovery efforts.

The SBA declarations require at least 25 homes and/or businesses in a county to suffer major uninsured losses of 40% or more. The SBA’s damage assessment noted 74 homes and nine businesses in Iroquois County that met that standard, along with 28 homes and three businesses in Kankakee County, in addition to 21 homes and seven businesses in Vermillion County.

Senator Barickman encourages individuals to contact his office at 309-661-2788 or by email at jason@jasonbarickman.org with questions or to visit the SBA website at https://disasterloan.sba.gov/ela/Information/Index.

“This is a program designed to help get people and businesses back on their feet,” said Sen. Barickman. “I would encourage those who are eligible to take advantage of this program.”

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