STEPHENSON COUNTY, Ill. (WIFR) -- Stephenson County residents and businesses will soon receive state assistance after a historic flooding last March.
Gov. J.B. Pritzker announced on Wednesday the U.S. Small Business Administration approved the state’s request to help people recover from the flooding.
Since the flood was approved SBA disaster declaration, low-interest loans available to homeowners, renters and businesses affected in Stephenson County.
People in Winnebago, Jo Daviess, Carroll and Ogle counties can also apply a low-interest loan if they live along the Rock and Pecatonica rivers.
SBA loans are intended to help repair or replace damaged or destroyed real estate. Homeowners and renters can apply for loans to repair or replace damaged or destroyed personal property.
Businesses and private non-profit organizations can also apply for loans to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
“As we look at the flood outlook for our state, we know that the road to recovery will be a long and difficult path," said Acting Director Alicia Tate-Nadeau. "The state of Illinois stands ready to help as flood victims begin to rebuild."
The filing deadline to return applications for physical property damage is July 8, 2019. The deadline to return economic injury applications is February 7, 2020.
A recent damage assessment survey found 19 homes and eight businesses sustained major damage in Stephenson County. The survey estimate shows more than $1 million in residential and commercial losses from the flooding.