Downers Grove-area homeowners, renters and business owners hit by the July 2–4 storms can now apply for low-interest federal disaster loans, with a physical damage application deadline of Oct. 10, according to the SBA.
The U.S. Small Business Administration issued disaster declaration IL-20031 on Monday, Aug. 10, after a request from Gov. JB Pritzker, unlocking loans for six Illinois counties including DuPage. The declaration also covers Cook, DeKalb, Kane, Kendall and McHenry counties.
It is the second SBA disaster declaration covering DuPage County this summer. A prior declaration was issued July 14 for the June 11 tornadoes.
Who qualifies and how much
Homeowners can borrow up to $500,000 to repair or replace a primary residence. Homeowners and renters can apply for up to $100,000 for personal property such as furniture, appliances and vehicles. Businesses and private nonprofits may borrow up to $2 million for real estate, equipment, inventory and other assets.
Interest rates run as low as 4% for businesses, 3.625% for nonprofits and 2.875% for homeowners and renters, according to the Chicago Tribune, with no payments due until one year after the first disbursement.
Applicants may also qualify for a loan increase of up to 20% above verified physical damage for mitigation work, including wind-rated garage doors or storm shelters.
Small businesses that suffered no physical damage but lost revenue can apply for Economic Injury Disaster Loans to cover payroll, rent and other fixed costs. That deadline is May 5, 2027.
The loans are not available to agricultural producers, farmers or ranchers, except aquaculture enterprises.
Where to apply in person
The closest center open now is the Prisco Center, 150 W. Illinois Ave., Aurora, operating through Aug. 22. Hours are 9 a.m. to 7 p.m. Monday through Friday and 9 a.m. to 2 p.m. Saturday. Walk-ins are welcome.
A center at the Hanover Park Police Department, 2011 W. Lake St., opens Aug. 24 and runs through Sept. 5 with the same weekday and Saturday hours. DuPage County's website notes that eligible residents may visit any center regardless of where they live.
Two additional centers serve the broader region: the Elgin Township Building, 729 S. McLean Blvd., Elgin (Aug. 17–Sept. 1, 8 a.m. to 6 p.m. weekdays, 9 a.m. to 2 p.m. Saturday), and the Hinckley Community Building, 120 Maple St., Hinckley (Aug. 25–Sept. 5, hours to be announced).
How to apply online or by phone
Residents and business owners can also apply at sba.gov/disaster, call (800) 659-2955 or email [email protected]. People who are deaf or hard of hearing may dial 7-1-1 for relay services.
Chris Stallings, the SBA's associate administrator for disaster recovery and resilience, said in the Aug. 10 announcement that the outreach centers are staffed with specialists who help business owners and residents navigate the application process and connect them with other recovery programs.
The July storms caused widespread flooding, downed trees and power outages across Downers Grove, knocking out electricity to more than 5,000 ComEd customers. A contractor, Ivan Perez, 33, of Pasadena, Texas, died July 28 after becoming trapped in a storm sewer on Curtiss Street while working on a pipe rehabilitation project. DuPage County's Public Works Committee approved updates to its sewer reimbursement program on Aug. 4 in response to the same storm season.
Residents seeking additional assistance can contact 211 DuPage by calling 211 or visiting 211DuPage.gov.
