(WBBM NEWSRADIO) — As residents in Elgin and Warrenville work to fix damage from separate tornadoes last week, businesses that were damaged in twisters more than three months ago can now apply for federal assistance.
Small businesses, farm co-ops and private nonprofits that lost money due to the March 31, 2023, tornadoes are eligible for low-interest loans from the U.S. Small Business Administration (SBA).
The National Weather Service said 13 tornadoes ripped through central and southern Illinois, as well as parts of Indiana that day, with wind speeds ranging from 75 – 150 mph.
SBA officials recently announced it would give borrowers one year of no payments and zero percent interest in order to help small businesses recover more quickly from disasters between September of 2022 and 2023.
The deadline to apply for an SBA loan is March 11th. The declaration covers 16 counties in Illinois and three counties in Indiana.
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