Metro East Sun

U.S. Representative Mike Bost has announced that the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans to assist those affected by severe storms and flooding in Illinois. The loans are available for small businesses, private nonprofits, homeowners, and renters impacted by the events from April 2-6.

The declaration includes Marion County and its neighboring counties: Clay, Clinton, Jefferson, Washington, and Wayne. These areas qualify for both physical damage loans and Economic Injury Disaster Loans (EIDLs).

"Our region was hit hard by these storms, and I've heard directly from folks who are struggling to recover," said Bost. "These disaster loans will help families and small businesses repair, rebuild, and get back on their feet. I urge everyone who was affected to look into this assistance and apply as soon as possible."

Eligible small businesses and private nonprofits can apply for up to $2 million in physical disaster loans to replace damaged real estate, equipment, and inventory. Homeowners have the option to apply for up to $500,000 to repair or replace their primary residence. Additionally, homeowners or renters may seek up to $100,000 for personal property recovery such as furniture, vehicles, and appliances.

Applicants might also qualify for a loan increase of up to 20% of their verified physical damages aimed at future mitigation upgrades like safe rooms or wind-resistant garage doors.

The deadline for applying for physical damage is July 14, 2025; for economic injury applications must be submitted by February 17, 2026. More information is available at sba.gov/disaster.