SBA Opens Loans After Illinois Tornado Disaster
Published Date: 5/21/2026
Notice
Summary
A big storm and tornado hit parts of Illinois on April 17, 2026, causing damage and economic trouble. The Small Business Administration declared a disaster, opening the door for loans to help homeowners, businesses, and nonprofits recover. If you’re affected in Stephenson or nearby counties, you can apply for physical damage loans by July 17, 2026, and economic injury loans until February 18, 2027.
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Homeowner Disaster Repair Loans Open
If your home in the listed Illinois or Wisconsin counties was damaged by the April 17, 2026 storm and tornado, you can apply for SBA physical damage loans through the MySBA Loan Portal. Physical loan applications are due by July 17, 2026; interest rates listed are 5.750% for homeowners with credit available elsewhere and 2.875% for homeowners without credit available elsewhere.
Business Physical Damage Loans Available
Businesses in the declared areas may apply for SBA physical damage loans for storm and tornado losses; applications for physical damage loans must be submitted by July 17, 2026. Interest rates shown are 8.000% for businesses with credit available elsewhere and 4.000% for businesses without credit available elsewhere.
Economic Injury (EIDL) Loans Open to Businesses
Businesses and small agricultural cooperatives without credit available elsewhere in the declared areas can apply for Economic Injury Disaster Loans (EIDL) through February 18, 2027; the interest rate listed for these EIDL loans is 4.000%. Private non‑profit organizations without credit available elsewhere may apply for EIDL-type assistance at 3.625% by the same February 18, 2027 deadline.
Private Nonprofit Physical Loan Terms
Private nonprofit organizations in the designated areas may apply for SBA physical damage loans by July 17, 2026. Interest rates for private non‑profit organizations are listed at 3.625% (both for those with and without credit available elsewhere).
Specific Counties Designated for Assistance
The SBA declared the primary county affected as Stephenson (Illinois) and listed contiguous counties as Carroll, Jo Daviess, Ogle, and Winnebago in Illinois, and Green and Lafayette in Wisconsin; Illinois and Wisconsin received the administrative declaration. Residents and businesses in these named counties are the areas identified for the loans and application deadlines above.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17106, Administrative Declaration of a Disaster for the State of Illinois
This is notice of an Administrative declaration of a disaster for the state of Illinois dated August 18, 2026. Incident: Severe Storms.
2026-17042, Small Business Size Standards
The U.S. Small Business Administration (SBA or the Agency) is proposing new size standards for 338 industry groups and industries. The new size standards are designed to better reflect the nature of the markets in which small businesses compete. SBA seeks comments on its proposed changes to size standards.
2026-16952, Administrative Declaration of an Economic Injury Disaster for the State of California
This is notice of an Economic Injury Disaster Loan (EIDL) declaration for the state of California dated August 14, 2026. Incident: 2026 Los Palos Incident.
2026-16955, Administrative Disaster Declaration of a Rural Area for the Commonwealth of Northern Mariana Islands
This is notice of an Administrative disaster declaration of a rural area for the commonwealth of Northern Mariana Islands dated August 14, 2026. Incident: Super Typhoon Bavi.
2026-17020, Presidential Declaration Amendment of a Major Disaster for Public Assistance Only for the State of Wisconsin
This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of Wisconsin (FEMA-4923-DR), dated June 30, 2026. Incident: Severe Storms, Tornadoes, and Flooding.
2026-16953, Administrative Disaster Declaration of a Rural Area for the State of Nebraska
This is notice of an Administrative disaster declaration of a rural area for the state of Nebraska dated August 14, 2026. Incident: Wildfires.
Previous / Next Documents
Previous: 2026-10178, Combined Notice of Filings #1
The Federal Energy Regulatory Commission got a bunch of filings from energy companies like Crimson Orchard Solar and PJM Interconnection. These filings include updates on rates, refunds, and compliance with rules, some affecting prices and project timelines. If you’re involved in energy markets or projects, watch for comment deadlines mostly in early June 2026 and some changes kicking in as soon as April or July 2026.
Next: 2026-10181, South Atlantic Fishery Management Council; Public Meeting
The South Atlantic Fishery Management Council’s Executive Committee is meeting online on June 22, 2026, to talk about staff benefits. This meeting affects Council employees and could lead to changes in their perks or pay. If you want to join or share your thoughts, you can register for the webinar and submit comments before the meeting.