SBA issues disaster declaration for area hit by March floods
SPRINGFIELD, Ill. (AP) — The Small Business Administration has approved a disaster declaration for parts of northern Illinois affected by flooding earlier this year.
The designation announced Wednesday will allow homeowners, renters and and businesses in the area to receive low-interest, long-term loans to help repair or replace damaged or destroyed real estate.
The declaration stems from the March flooding along the Rock and Pecatonica rivers. It applies to Stephenson County as well as six contiguous counties. They are Winnebago, Jo Daviess, Carroll and Ogle counties in Illinois and two counties in Wisconsin.
A Disaster Loan Outreach Center will open Friday at Highland Community College in Freeport. SBA representatives will be available to provide additional information.
A recent assessment found the flooding caused more than $1 million in residential and commercial losses in Stephenson County.