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GOVERNOR ANNOUNCES AVAILABILITY OF FEDERAL ASSISTANCE FOR TORNADO AND STORM DAMAGED AREAS
SPRINGFIELD -- Governor George H. Ryan today announced the U.S. Small Business Administration (SBA) granted his request for federal long-term, low-interest loans in Coles and surrounding counties as a result of flooding, tornado and storm damage on June 1.
"I am pleased that this federal assistance is being made available to homeowners and business owners who suffered property losses during the tornadoes," Ryan said. "Combined with the state's clean-up efforts, state energy assistance and public aid grants, and volunteer efforts, we hope this federal loan program can help Coles, Shelby and other affected communities get back on their feet."
Included as part of the SBA disaster declaration, homeowners and business owners who suffered losses in counties contiguous to Coles County are eligible. Those contiguous counties include: Douglas, Edgar, Clark, Cumberland, Shelby and Moultrie.
The SBA is expected to announce the opening of regional assistance offices. Once these offices are open, individuals and businesses suffering storm-related damage may visit these offices to complete loan applications. The low-interest loans are available to cover losses not covered by insurance. Homeowners and renters may be eligible for loans to cover physical damage. Business owners may be eligible for economic injury loans as well as loans for physical damage.
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