State of Illinois Backed Low-interest Loans Offered to Flood Victims

Business owners and residents who flooded may be eligible for low-interest disaster recovery loans.  These loans are guaranteed by the Illinois State Treasurer. A declaration of a disaster by the Governor made business owners and residents eligible for the Opportunity Illinois: Disaster Recovery Loan Program, which offers below-market interest rates for storm victims who finance their repairs through participating local lenders.  Under-insured business owners and residents may qualify for low-interest loans with repayment terms of up to five years.  Residents who expect insurance to cover their damages also may qualify for one-year bridge loans with interest-only payments; these loans are designed to be paid off when insurance or aid comes through.  For more information on Opportunity Illinois, call 866-523-0641 or email opportunityillinois@treasurer.state.il.us.

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