Applications for low-interest loans are now available
Litchfield – Governor JB Pritzker announced today that the U.S. Small Business Administration (SBA) has approved a disaster declaration for the severe flooding that impacted the City of Litchfield in Montgomery County on May 24th. This disaster declaration will allow residents, condo homeowners, and businesses to apply for low-interest loans for damages not covered by insurance.
SBA staff will be at Fire Station 2, 1 Skyview Drive, Litchfield, starting at 9 a.m. on Monday, June 24 to help residents with their applications. The Disaster Loan Outreach Center (DLOC) will be open weekdays from 9 a.m. to 6 p.m. and Saturdays from 10 a.m. to 2 p.m.
The deadline for applying for a loan for physical damage is August 16, 2024. The deadline for economic injury loan applications is March 17, 2025, but the in-person centers close permanently at 6 p.m. on Monday July 8.
"Our hearts are with all the flood survivors from the City of Litchfield and Montgomery County," said Governor JB Pritzker. "My administration, in partnership with federal and local partners, has mobilized numerous resources to help survivors heal and rebuild their community. Thanks to these efforts, affected families and businesses will now have access to low-interest loans for damages not covered by insurance.”
“When a disaster strikes, it takes local, county, state, and Federal resources to help survivors start the recovery process. We thank the City of Litchfield and Montgomery County EMA for the strong partnerships in the aftermath of this devastating event,” said Illinois Emergency Management Agency and Office of Homeland Security (IEMA-OHS) Director Alicia Tate-Nadeau.
"We are grateful for the assistance our citizens have received from federal, state, county, and local agencies in the aftermath of the flooding the City of Litchfield experienced. Our community has rallied together to support one another," said Mayor Steve Dougherty.
“I was proud of the way that all levels of government came together for the residents of the City of Litchfield,” said Montgomery County Board Chairperson Doug Donaldson, "This is a great example of how governmental agencies can work together to assist citizens affected by devastating events such as this. I would also like to commend the City of Litchfield emergency responders for their quick action to assist stricken homeowners and St Francis Hospital. Our county agencies such as Montgomery County EMA stand ready to assist local governments during time of need."
Homeowners can apply for up to $500,000 in low-interest loans to repair or replace damaged or destroyed real estate. Homeowners or renters can apply for up to $100,000 to repair or replace damaged or destroyed personal property. Businesses and not-for-profits can borrow up to $2 million for physical damages. Details on loans are available at https://disasterloanassistance.sba.gov/ela/s/.
This declaration covers Montgomery County and the contiguous counties of Bond, Christian, Fayette, Macoupin, Madison, Sangamon, and Shelby.
Illinois Emergency Management Agency and Office of Homeland Security (IEMA-OHS): Ready.Illinois.gov
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