Kankakee Times

Gov. Bruce Rauner recently asked for federal assistance to allow businesses in three counties access to low-interest, long-term loans as they recover from significant flooding in February.

Rauner made the request last week to the U.S. Small Business Administration (SBA) to allow individuals and businesses in Iroquois, Kankakee, Vermillion and adjacent counties to be eligible for the SBA's low-interest, long-term loans.

Rauner said the assistance from the SBA would mean a quicker recovery for the people and businesses affected by the floods. 

“Many people are still working to fully recover from these devastating floods,” Rauner said in a statement. “If approved, these low-interest loans could speed up that process for many people and businesses.”

According to the governor's office, a damage assessment done in March showed 123 homes and 19 businesses in the three counties qualify for SBA assistance. SBA guidelines for assistance include at least 25 homes and or businesses in a county having major damage and uninsured losses of at least 40 percent.

The state was turned down earlier this month by the Federal Emergency Management Agency (FEMA) after requesting help for Illinois residents recovering from the floods.