Rauner applauds SBA approval of disaster aid for Lake, McHenry and Cook counties
Gov. Bruce Rauner recently applauded the U.S. Small Business Administration’s (SBA) decision to approve a request for aid from the state following catastrophic flooding in July in northeastern Illinois in July.
The SBA’s decision means that residents and businesses in Lake, Cook and McHenry counties will be able to access low-interest, long-term loans to help repair some of the damage caused by the flooding, a release from the governor's office said.
“I appreciate the SBA’s quick consideration of our request for assistance,” Rauner said in the release. “This will help many people and businesses begin the next phase of their recovery from this disaster.”
Sever storms in the second half of July caused significant flooding throughout northeastern Illinois, which in turn caused considerable property damage. According to the release, in Lake County alone 233 homes and 21 businesses were significantly damaged in the floods and were uninsured against that damage.
For an area to be eligible for SBA assistance in the wake of a disaster, at least 25 homes and/or businesses must have sustained major and uninsured damage.
Lake, Cook and McHenry County residents who wish to take advantage of the SBA loan program should visit the administration’s website for more information, including application deadlines.