Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Disaster Recovery topic
No spam. Unsubscribe anytime.
Kane County declared eligible for SBA disaster loans after July flooding; outreach centers to open in Aurora and Elgin
Summary
Following July 4 flooding, the governor signed a declaration making Kane County eligible for SBA small-business disaster loans; county leaders said outreach centers staffed by the U.S. Small Business Administration will open in Aurora and Elgin and the county will publish application information for businesses and homeowners.
Chair briefed the board that, following flooding on July 4, Kane County is now eligible for SBA small-business disaster loans and that outreach centers would open in Aurora and Elgin to assist businesses, homeowners and renters. She urged commissioners to help push the county's public information that explains who is eligible and how to apply. The chair said the loans would be available to homeowners and businesses for repair and recovery and described the interest rate as significantly below market; during the discussion a commissioner noted the rate could be under 4% and the chair later referenced a figure around 2.6%.
The county's public information office will publish details through Kane County Connects and staff will coordinate the location and hours of the outreach centers. Residents and businesses were advised to review eligibility and terms carefully before applying.
