SBA Officially Declares Illinois Severe Storms a Disaster Zone
Published Date: 8/11/2026
Notice
Summary
This is notice of an Administrative declaration of a disaster for the state of Illinois dated August 5, 2026. Incident: Severe Storms.
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Low-Rate Homeowner Disaster Loans
If your home was damaged by the July 2–4, 2026 severe storms in the declared areas (primary: Kane County; contiguous: Cook, DeKalb, DuPage, Kendall, McHenry), you can apply for SBA physical disaster loans. Homeowner interest rates are 5.750% if you have credit available elsewhere and 2.875% if you do not; the physical loan application deadline is October 5, 2026, via the MySBA Loan Portal.
Physical-Damage Loans for Local Businesses
Small businesses in the declared areas (primary: Kane County; contiguous: Cook, DeKalb, DuPage, Kendall, McHenry) may apply for SBA physical disaster loans for storm damage. Interest rates are 8.000% for businesses with credit available elsewhere and 4.000% for businesses without credit available elsewhere; the physical loan application deadline is October 5, 2026, and applications are accepted via the MySBA Loan Portal.
Economic Injury (EIDL) Loans Available to Businesses
Businesses and small agricultural cooperatives in the declared areas (primary: Kane County; contiguous: Cook, DeKalb, DuPage, Kendall, McHenry) can apply for SBA Economic Injury Disaster Loans (EIDL). The interest rate for businesses and small agricultural cooperatives without credit available elsewhere is 4.000%; the EIDL application deadline is May 5, 2027, and applications are accepted via the MySBA Loan Portal.
Disaster Loans for Private Nonprofits
Private nonprofit organizations in the declared areas (primary: Kane County; contiguous: Cook, DeKalb, DuPage, Kendall, McHenry) are eligible to apply for SBA physical damage and economic injury disaster loans. The stated interest rate for private non‑profit organizations (both with and without credit available elsewhere for physical damage, and without credit for economic injury) is 3.625%; physical loan applications are due October 5, 2026 and EIDL applications are due May 5, 2027, via the MySBA Loan Portal.
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Key Dates
Department and Agencies
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