Ray Harbour is with the S.B.A. She says the agency gives low interest loans to people up to $200,000 for property loss and $40,000 for personal property. Harbour says businesses and nonprofits also qualify for up to $2 million. She says in this stage most people are unsure how everything is going to happen and that’s why they should apply.
HARBOUR: Register with FEMA, apply for these loans and then if it turns out their insurance is going to pay for everything they don’t have to take the loan. But the loan deadline is January 27th. So we want everyone to go ahead and apply to give themselves the option.”
People are directed to the Small Business Administration application when they apply with FEMA. That registration number is necessary to complete the S.B.A. application. Harbour says they have interest rates as low as 2.25% for up to 30 years.
The Festival of Lights building in East Peoria will be the location for one of the Disaster Recovery Centers in the state. Two of the three centers open Friday in Tazewell and Massac Counties.
The offices are the place people affected by the November 17th storms can get help with applying for disaster assistance, and other programs.
The Tazewell County office is open seven days a week, 8 a.m. – 7 p.m. until further notice.