Illinois Apartment Fire Triggers SBA Disaster Loans
Published Date: 6/15/2026
Notice
Summary
A big fire at an Oak Lawn apartment complex has led the government to declare a disaster for parts of Illinois and nearby Indiana. This means people and businesses in these areas can apply for special low-interest loans to help fix damage or recover lost income. You’ve got until August 10, 2026, to apply for physical damage loans and until March 10, 2027, for economic injury loans—so don’t wait!
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Physical Damage SBA Loans Available
If you suffered physical damage from the Oak Lawn apartment complex fire and are in the affected areas (Primary: Cook County; Contiguous: DuPage, Kane, Lake, McHenry, Will in Illinois; Lake in Indiana), you can apply for SBA physical damage disaster loans. The deadline to apply for physical damage loans is August 10, 2026. Interest rates listed include 5.750% for homeowners with credit available elsewhere, 2.875% for homeowners without credit available elsewhere, 8.000% for businesses with credit available elsewhere, 4.000% for businesses without credit available elsewhere, and 3.625% for private non-profit organizations.
Economic Injury (EIDL) Loans Open
Businesses and small agricultural cooperatives in the declared disaster areas can apply for Economic Injury Disaster Loans (EIDL) to cover lost working capital; private non-profit organizations may also apply. The deadline to apply for EIDL is March 10, 2027. Interest rates for EIDL shown are 4.000% for businesses and small agricultural cooperatives without credit available elsewhere and 3.625% for private non-profit organizations without credit available elsewhere.
How to Apply and Contact SBA
You can apply for disaster assistance loans online at the MySBA Loan Portal (https://lending.sba.gov) or in person at locally announced locations, and you can contact the SBA disaster assistance customer service center by email at [email protected] or by phone at 1-800-659-2955 (7-1-1 for relay). The declaration assigns disaster numbers: physical damage 216425 and economic injury 216430.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-19030, Administrative Declaration of a Disaster for the State of Nevada
Nevada’s Washoe County and nearby areas got hit by the Bug and Hawk Fires between August 8 and September 9, 2026. The government declared a disaster, opening the door for low-interest loans to help homeowners, businesses, and nonprofits recover. You’ve got until November 10, 2026, to apply for physical damage loans and until June 11, 2027, for economic injury loans—so don’t wait!
2026-18907, Presidential Declaration of a Major Disaster for Public Assistance Only for the State of North Dakota
A major disaster was declared for North Dakota after severe storms, straight-line winds, and tornadoes hit from June 7-9, 2026. This declaration helps local non-profits get disaster loans to recover, with physical damage loan applications due by November 1, 2026, and economic injury loans available until June 1, 2027. The affected counties include Bottineau, Burke, Divide, McLean, Mercer, Oliver, and Williams.
2026-18777, Administrative Declaration of a Disaster for the State of Texas
Texas got hit hard by storms and tornadoes on August 28, 2026, and now the government is stepping in with disaster loans to help folks bounce back. If you live in Bexar or nearby counties, you can apply for low-interest loans to fix damage or cover business losses, but don’t wait—physical damage loans close November 9, and economic injury loans close June 10, 2027. This is your chance to get financial help and rebuild stronger!
2026-18758, Presidential Declaration of a Major Disaster for Public Assistance Only for the State of South Dakota
The President declared a major disaster for parts of South Dakota hit by storms, tornadoes, and flooding from June 28 to July 3, 2026. This means public assistance and low-interest disaster loans are now available to help affected communities and nonprofits recover. Physical damage loan applications are due by November 1, 2026, and economic injury loans by June 1, 2027.
2026-18756, Presidential Declaration Amendment of a Major Disaster for Public Assistance Only for the State of Texas
Texas got hit hard by storms, tornadoes, and flooding between July 12 and August 4, 2026. The President updated the disaster declaration to confirm these dates, making more public assistance available. If you’re affected, you have until November 2, 2026, to apply for physical damage loans and until June 1, 2027, for economic injury loans.
2026-18740, Presidential Declaration Amendment of a Major Disaster for the State of Indiana
Indiana’s major disaster declaration for severe storms, tornadoes, and flooding just got an update! The disaster period now officially covers August 11 to August 24, 2026. If you’re affected, you’ve got until October 25, 2026, to apply for physical damage loans and until May 25, 2027, for economic injury loans—so don’t wait!
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