SPRINGFIELD – Governor Pat Quinn today announced that the state’s request for a U.S. Small Business Administration (SBA) disaster declaration has been granted for the following primary counties – Jackson and Williamson – and the contiguous counties of Franklin, Johnson, Perry, Pope, Randolph, Saline and Union. On July 14, Gov. Quinn asked the SBA to make low-interest loans available to homeowners, renters and businesses in those two counties that suffered heavy damage from the May 8 severe storm.
Earlier this month, FEMA approved Gov. Quinn’s request for federal disaster assistance to local governments and electrical cooperatives. The federal disaster declaration will enable those entities in Franklin, Gallatin, Jackson, Randolph, Saline and Williamson counties to recover 75 percent of their extraordinary costs related to storm response and recovery. However, the state’s request for federal assistance to individuals was denied.
“This SBA declaration is great news for hundreds of people in Jackson and Williamson counties whose homes were damaged or destroyed by the May 8 storm,” said Gov. Quinn. “While we were disappointed that our request for FEMA assistance was denied, we moved quickly to request SBA assistance. These low-interest loans will help many people recover.”
Homeowners in the approved counties can apply for low-interest loans up to $200,000 to repair or replace damaged or destroyed real estate. Homeowners and renters also are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and private non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
The filing deadline to return applications for property damage is September 14. The deadline to return economic injury applications is April 16, 2010. Any individual or business needing additional information or wishing to apply for a loan should contact the SBA Customer Service Center at (800) 659-2955.