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SBA outlines Economic Injury Disaster Loans for Iroquois County after March storm
Summary
An SBA public affairs specialist told county commissioners that Iroquois County was declared contiguous under the state disaster declaration and eligible for Economic Injury Disaster Loans (max $2 million); the SBA urged the county to share outreach materials and noted the application deadline is Jan. 11, 2027.
A U.S. Small Business Administration public affairs specialist briefed Iroquois County Board members on June 9 about low-interest Economic Injury Disaster Loans available to businesses, nonprofits and faith-based organizations affected by a severe storm and tornado on March 10.
"Iricquin County was declared a contiguous county in the Illinois disaster declaration and is only eligible for economic injury disaster loans from the SBA," the specialist said, noting the loans can provide working capital to pay payroll, rent, utilities and other fixed debts. The maximum business loan is $2 million; applicants receive no payments and no interest for the first 12 months and there is no fee to apply.
The SBA representative said businesses and nonprofits are eligible regardless of whether they suffered physical property damage, and applicants have 60 days after applying to decide whether to accept a loan. The SBA requested that the county share the information on its website, newsletter and social media and offered to follow up with written materials and direct outreach to a list of impacted businesses.
The presenter said the application filing deadline for economic-injury disaster loans is Jan. 11, 2027, and offered SBA customer-service assistance to help complete applications.
County staff said they would circulate the materials and coordinate outreach to impacted businesses and nonprofits.
