USDA announces federal disaster loan assistance for McLean County

Local News

MCLEAN COUNTY, Ill. (WMBD) — McLean County property owners whose homes and businesses were damaged by the June 25-27 flooding could qualify for federal disaster loan assistance.

The approval means low-interest, long-term loan applications will now be available to residents and business owners in McLean County and adjacent counties (Champaign, DeWitt, Ford, Livingston, Logan, Piatt, Tazewell, and Woodford) for those affected by these storms.

Homeowners or renters can apply for loans to repair or replace disaster-damaged real estate and personal property, including automobiles.

Loans are available to businesses of any size to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery, and equipment. Private, nonprofit organizations such as charities, churches, and private universities also are eligible.

Economic injury disaster loans are also available for small businesses and most private, nonprofit organizations to help meet ordinary and necessary financial obligations that cannot be met as a direct result of the disaster.

Flooding damage in McLean County did not meet the threshold for a federal disaster declaration from the Federal Emergency Management Agency, but it did meet the threshold for the Small Business Association (SBA). An SBA declaration requires at least 25 homes and/or businesses in a county to have sustained major, uninsured losses of 40% or more.

Application forms can be found here. SBA Fact Sheets can be found here.

Those seeking in-person assistance can find it in the McBarnes Building, located at 201 E. Grove St. in Bloomington. Parking is in the north lot of the facility.

Hours are:

Wednesday July 28: 12-6 p.m.

Weekdays through Aug. 12: 9 a.m. until 6 p.m.

Saturday, Aug. 7: 10 a.m. until 2 p.m.

Sundays: Closed

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