Will County, IL – SBA Provides Aid for Ice Jams and Flooding Recovery Efforts

Wilmington, IL – In response to the severe ice jams and flooding from January 15-25, the U.S. Small Business Administration (SBA) has extended a helping hand to Will County and neighboring areas with federal disaster loans. 

Per the SBA’s March 14 announcement, this financial relief comes after Illinois Governor J.B. Pritzker’s disaster declaration request. Covering Will, Cook, DuPage, Grundy, Kankakee, and Kendall counties in Illinois, and Lake County in Indiana, these low-interest, long-term loans aim to support economic recovery of the impacted communities. 

According to the SBA, businesses and private non-profit organizations may borrow up to $2 million, homeowners up to $200,000 for real estate damage, and renters and homeowners up to $40,000 to replace personal property. The Wilmington Lion’s Club, located at 805 River St., Wilmington, IL, will operate as a Disaster Loan Outreach Center until March 29, providing assistance for loan application inquiries. 

Applications for physical damage must be submitted by May 13, 2024, and for economic injury by December 13, 2024.