Disaster Loans Available for Small Businesses Impacted by July Storms

The U.S. Small Business Administration has declared Kankakee County as a disaster area following storms which occurred July 13-16, 2024. The incidents included severe storms, tornadoes, straight-line winds and flooding. Businesses and residents affected by these storms may be eligible for the Economic Injury Disaster Loans (EIDL).

Application filing dates: 

Physical Damage: December 13, 2024

Economic Injury: June 20, 2024

What Types of Disaster Loans are Available?

• Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
• Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
• Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.

For additional information on these loans, see the entire FACT SHEET HERE.

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