Low-interest loans available for July storm damage in Kane, DuPage counties

Residents in Kane and DuPage counties who had damage and losses from the storms that occurred July 2-4 can apply for low-interest loans through the U.S. Small Business Administration.

The agency has issued a disaster declaration for those two counties as well as DeKalb, Kendall and McHenry counties, making homeowners, renters, businesses and some nonprofits eligible to seek loans to help expenses not otherwise covered by insurance, a news release said.

Homeowners can apply for up to $500,000 in loans to repair or replace real estate and up to $100,000 to replace personal property, the release said.

Businesses and nonprofits may borrow up to $2 million to cover physical damages and may also qualify for loans to help cover financial losses resulting from the bad weather.

SBA customer service representatives will be available at four locations to help applicants complete their applications. They are:

• Prisco Center, 150 W. Illinois Ave., Aurora, which is open now through Aug. 22. Hours are 8 a.m. to 6 p.m. Monday through Friday and 9 a.m. to 2 p.m. Saturday.

• Elgin Township Building, 729 S. McLean Blvd., Elgin, open from Aug. 17 to Sept. 1. Hours are 8 a.m. to 6 p.m. Monday through Friday and 9 a.m. to 2 p.m. Saturday.

• Hanover Park Police Department, 2011 W. Lake St., Hanover Park, open from Aug. 24 to Sept. 5. Hours are 9 a.m. to 7 p.m. Monday through Friday and 9 a.m. to 2 p.m. Saturdays.

• Hinckley Community Building, 120 Maple St., Hinckley, open from Aug. 25 to Sept. 5. Hours are to be announced.

People may also apply online at sba.gov/disaster, call (800) 659-2955 or email disastercustomerservice@sba.gov.

The deadline to submit SBA disaster loan applications for physical property damage is Oct. 10. The deadline for economic injury applications is May 5, 2027.

Mike Danahey is a freelance reporter.