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SBA outlines disaster loan eligibility and deadlines for residents after nearby tornadoes
Summary
An SBA representative briefed Crown Point residents on disaster assistance eligibility following nearby tornadoes, including Economic Injury Disaster Loans up to $2 million and key deadlines: physical damage applications by June 8, 2026 and economic injury loans through Jan. 11, 2027.
Jim MacCurso, a Public Affairs Specialist with the U.S. Small Business Administration’s Office of Disaster Recovery, told Crown Point residents on May 4 that certain disaster-assistance programs are available to residents affected by nearby tornadoes.
MacCurso said Economic Injury Disaster Loans are available for losses attributable to the tornado incident, with loan amounts up to $2,000,000 and an application deadline for economic injury assistance of Jan. 11, 2027. He also noted the deadline for physical-damage applications tied to the incident is June 8, 2026, with a 60-day grace period in some circumstances. Interest rates, deferment terms and application portals were described: MacCurso directed residents to https://lending.sba.gov and to in-person disaster loan outreach centers across the state and across the border in Kankakee for help.
MacCurso emphasized that SBA funds come from the U.S. Treasury, not private banks, and encouraged those with damage or economic losses related to the referenced tornado event to apply or to contact SBA customer-service representatives for guidance.
