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CHICAGO (WBBM NEWSRADIO) -- State officials released Thursday new information on the extent of the damage done during last month's looting and vandalism.
The Illinois Department of Commerce and Economic Opportunity and the state Emergency Management Agency pegged the property damage at more than $20 million in Cook County alone, during the civil unrest sparked by the Minneapolis police killing of George Floyd.
The survey found 40 businesses in the county sustained major damaged and uninsured losses, while another 95 businesses experienced minor damage.
The estimates were released as part of the state's efforts to secure up to $2 million in low-interest federal loans for businesses and non-profits from the U.S. Small Business Administration to help rebuild in Cook, Lake, DuPage, Will, Kane and McHenry counties.
Damage assessments are still underway in those other counties. To be eligible for the SBA disaster declarations, counties must have seen at least 25 homes or businesses with major uninsured losses of 40 percent or more.
In addition to businesses and non-profits, individuals may also be eligible for assistance. Homeowners can borrow up to $200,000 for real estate, and homeowners and renters can borrow up to $40,000 for personal property.
Those considering applying for loans can get additional information through the SBA’s Virtual Disaster Loan Outreach Center at DisasterLoanAssistance.sba.gov; via email to FOCE-Help@sba.gov; or by phone at (571) 422-6016 or (470) 363-6079.
The application filing deadline for physical property damage is Aug. 24. Economic injury applications are being accepted through March 23, 2021.