Federal loans available to assist Illinois businesses impacted by drought

Federal loans available to assist Illinois businesses impacted by drought

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SPRINGFIELD, Ill. (WTVO) — Federal loans are available for Illinois businesses and organizations impacted by the recent drought.

The U.S. Small Business Administration announced Thursday that economic injury disaster loans, up to $2 million, are now available, and people in Boone, Cook, DeKalb, DuPage, Kane, Kendall, Lake, LaSalle, Lee, McHenry, Ogle, Will and Winnebago counties are eligible.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities, affected by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.

The money can be used to pay debts, payroll, or other bills that could have been paid if the drought had not happened.

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