Rauner requests SBA help for flood victims

Gov. Bruce Rauner has submitted a request for U.S. Small Business Administration assistance for people and businesses trying to recover from severe storms and floods in July. If approved, it would allow flood victims in Lake, Cook and McHenry counties to apply for low-interest, long-term loans. To be eligible for an SBA declaration, at least 25 homes and/or businesses in a county must sustain major, uninsured losses of 40 percent or more. A damage assessment conducted in August by the SBA identified 233 houses and 21 businesses in Lake County sustained major damages and uninsured losses. On Aug. 31, the state requested federal assistance through the Federal Emergency Management Agency (FEMA) to help people recover from the floods. That request was denied last week.