State Senator Dan McConchie (R-Hawthorn Woods) applauds the U.S. Small Business Administration’s decision to approve flood recovery assistance for Lake, McHenry, and Cook Counties. Those impacted by the floods are now eligible to apply for low-interest, long-term loans.
“For the flood victims in my district, this assistance comes not a moment too soon. Given the devastating nature of this summer’s floods, these loans will provide crucial support to help our affected families and businesses rebuild.”
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. In Lake County, 233 homes and 21 businesses sustained major damages and had uninsured losses.
For more information on if you qualify or how to apply can be found at http://www.sba.gov/disaster.