Gov. Pritzker Announces SBA Assistance Approved for McLean County following Severe Storms, Flash Flooding

SPRINGFIELD - Governor JB Pritzker today announced the U.S. Small Business Administration (SBA) approved the state's request for assistance to help people and businesses in McLean County recover from severe storms and flash flooding that occurred in June 2021.

In addition to McLean County, people and businesses in the contiguous Illinois counties of Champaign, DeWitt, Ford, Livingston, Logan, Piatt, Tazewell and Woodford are eligible to apply for low-interest, long-term loans made available by the SBA declaration.

"I appreciate the U.S. Small Business Administration's quick approval of my request for assistance for McLean County, accelerating much-needed relief for eligible residents and small businesses in need," said Governor JB Pritzker. "Illinoisans living in McLean and surrounding counties can now access low-interest disaster loans to build back from the earlier summer storms. Illinois will continue to take every action to help impacted residents secure the help they deserve."

To be eligible for an SBA declaration, at least 25 homes and/or businesses in a county must sustain major, uninsured losses of 40 percent or more. A damage assessment conducted following the storm identified at least 59 homes and at least 10 businesses in McLean County sustained major damages resulting in more than $2.9 million in uninsured losses.  The survey also found at least 539 homes and at least nine businesses sustained minor damages, resulting in more than $3.8 million dollars in damages.

The SBA Disaster Declaration makes 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.  These applications must be received by the SBA no later than September 24, 2021.

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.  These applications must be submitted to the SBA no later than April 26, 2022.

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.  These loan applications are due September 24, 2021.

A Disaster Loan Outreach Center (DLOC) will be established in McLean County to help walk storm survivors through the application process.   The DLOC will be located at the McBarnes Building, 201 East Grove Street, Bloomington.  The center opens on Wednesday, July 28 and closes Thursday, August 12.  Hours of operation include:

Applicants may apply online, receive additional disaster assistance information by visiting https://disasterloan.sba.gov/ela.  Applicants can also call the SBA Customer Service line at (800) 659-2955.  Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.