SBA offering low-interest disaster loans in Illinois - 14 News, WFIE, Evansville, Henderson, Owensboro

SBA offering low-interest disaster loans in Illinois

Posted: Updated:
(KFVS) -

Southern Illinois may have been turned down for federal help after recent tornadoes and storms, but the Small Business Association is offering help.

Illinoisians hit by those storms Feb. 29 through March 2 can now apply for low-interest disaster loans from the U.S. Small Business Administration.

This applies to homeowners as well as businesses.

The SBA administrator made the loans available in response to a letter from Gov. Pat Quinn requesting a disaster declaration by the SBA.

The declaration covers Saline, Franklin, Gallatin, Hamilton, Hardin, Johnson, Pope, White and Williamson counties.

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses and non-profit organizations of any size can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Interest rates are as low as 1.875 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.

Those interested in applying can call 1-800-659-2955, apply online at sba.gov, or email disastercustomerservice@sba.gov.

Customer service representatives are at the Disaster Loan Operation Center at

Workforce & Illinois Small Business Development Center
(Old National Bank 2nd Floor)
Southeastern Illinois College
2 East Locust Street, Suite 200
Harrisburg, Illinois 62946

Monday – Friday, from 8 a.m. to 5 p.m., until further notice

The filing deadline for those with property damage is May 21.

Copyright 2012 KFVS. All rights reserved.

Powered by WorldNow