Algal Bloom Blues: Illinois Gets Disaster Loans for Slimy Setback
Published Date: 11/11/2025
Notice
Summary
Illinois small businesses and farms in Coles and nearby counties hit by a nasty algal bloom can now apply for special low-interest disaster loans. These loans help cover money lost between July 10 and August 1, 2025, and applications are open until August 6, 2026. Don’t miss your chance to get financial help and keep your business afloat!
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
EIDLs available for affected Illinois small businesses
Small businesses and small agricultural cooperatives in Coles County and the listed contiguous Illinois counties are eligible to apply for Economic Injury Disaster Loans (EIDL) for losses from July 10, 2025 through August 1, 2025. The EIDL declaration was issued November 6, 2025 and applications must be submitted by August 6, 2026.
Low interest rates set for eligible disaster loans
The notice sets interest rates for eligible borrowers: 4.000% for businesses and small agricultural cooperatives without credit available elsewhere, and 3.625% for non-profit organizations without credit available elsewhere. These rates apply to EIDLs associated with this disaster (Disaster Number 213420).
How and when to apply for EIDL assistance
Applications for these disaster loans may be submitted online using the MySBA Loan Portal at https://lending.sba.gov or at other locally announced locations, and applicants can contact the SBA disaster assistance customer service center at disastercustomerservice@sba.gov or 1-800-659-2955 for help. The application deadline is August 6, 2026.
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