ILLINOIS -- The entire state of Illinois, 15 counties in Missouri and eight counties in Iowa join Kentucky's five counties for the areas eligible for Economic Injury Disaster Loans.
The loans will help those negatively impacted financially from the extensive flooding that started on Sept 1, 2018. The U.S. Small Business Administration (SBA) says the primary recipients will be small business owners and farmers.
Three of the 15 eligible Missouri counties are in the Local 6 region: Cape Girardeau, Mississippi and Scott.
Similar to Kentucky, the loan amount per recipient could be as high as $2 million. Interest rates, according to a news release, are "3.675 percent for small businesses and 2.5 percent for private nonprofit organizations of all sizes, with terms up to 30 years."
SBA says the loans are not meant to replace lost sales or profits, but to help with payroll, fixed debts and other bills.
Anyone who is eligible can submit an application to the SBA by clicking here. They will determine the loan amount based on the application information provided.
You can also get the disaster loan information and application forms by calling SBA's Customer Service Center at 800-659-2955 (or 800-877-8339 for the deaf and hard-of-hearing) or by emailing firstname.lastname@example.org.
If you choose to fill out a paper application, the address to mail it to is:
All applications are due by April 1, 2020, regardless of how you fill it out.