SBA disaster loan outreach team in Danville this week
DANVILLE, Ill. (WCCU) —
Small Business Administration is in Danville this week helping flood victims apply for long-term loans.
The loans are offered to residents in Iroquois and Vermilion Counties.
The loans are low-interest and can be used for residential or business properties.
According to Vermilion County Emergency Management Chief Deputy Russell Rudd, 20 homes qualified for a loan and last Saturday they had eight families show up.
"However, the people still need to qualify for them,” Rudd said. “They need to have a minimum household income and they can't be too far in debt with other debts."
These long-term, low-interest loans comes after FEMA denied the state's request for flood relief back in April.
That funding would have been grants that residents didn’t have to repay.
The loan outreach team will be in Danville until Friday.