SBA Declares Disaster for Illinois Severe Storms
Published Date: 8/21/2026
Notice
Summary
This is notice of an Administrative declaration of a disaster for the state of Illinois dated August 18, 2026. Incident: Severe Storms.
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Disaster Declaration: Eligible Areas Named
The SBA declared a disaster for severe storms that occurred on July 27, 2026. Primary Illinois counties named are Cook and Will, and contiguous affected counties listed include DuPage, Grundy, Kane, Kankakee, Kendall, Lake, and McHenry in Illinois and Lake County in Indiana. The SBA says residents and businesses in these areas may submit disaster loan applications under this declaration.
SBA Disaster Loan Interest Rates Set
The SBA set interest rates for disaster loans: homeowners with credit available elsewhere 5.750% and without credit available elsewhere 2.875%. Businesses with credit available elsewhere 8.000% and without credit available elsewhere 4.000%. Private nonprofit organizations (with or without credit available elsewhere) 3.625%. For economic injury loans, businesses and small agricultural cooperatives without credit available elsewhere 4.000% and private nonprofits without credit available elsewhere 3.625%.
Deadlines to Apply for Disaster Loans
If you are in the declared area and want a physical damage loan, you must apply by October 19, 2026. If you want an Economic Injury Disaster Loan (EIDL), you must apply by May 18, 2027.
How to Apply and Contact Information
To apply for disaster assistance, use the MySBA Loan Portal at https://lending.sba.gov or apply in person at locally announced locations. For help, contact the SBA disaster assistance customer service center at 1-800-659-2955 or email [email protected]; TTY users should dial 7-1-1.
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Key Dates
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