CHICAGO (WBBM NEWSRADIO) -- Money is being made available to residents of the Austin neighborhood on Chicago's West Side whose properties were affected by the deadly explosion and partial roof collapse last month.
Governor JB Pritzker announced that the U.S. Small Business Administration has approved a disaster declaration for the apartment building located at Central and West End, which will allow residents, condo homeowners, and businesses to apply for low-interest loans for damages not covered by insurance.
Homeowners can apply for up to $200,000 in low-interest loans to repair or replace damaged or destroyed real estate. They can apply for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses and non-profit organizations can borrow up to $2 million for physical damages. Details on loans are available athttps://disasterloanassistance.sba.gov/ela/s/.
“Illinois is very grateful to the SBA because it will help these families rebuild their lives. Some of these residents lost not just the structure of their home, but everything they owned," said Illinois Emergency Management Agency Director Alicia Tate-Nadeau in a statement.
"I encourage every resident affected by the explosion to apply for one of these loans.”
SBA staff will be at the Austin Town Hall Park located at 5610 W. Lake Street in Chicago starting at 11 a.m. on October 6 to assist residents with their applications.
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