Under the Opportunity Illinois: Disaster Recovery Loan Program, the Treasurer’s Office provides low-interest loans to storm victims whose property has sustained weather-related damage.
The loans are available to residents and business owners living in declared disaster areas in Illinois who are waiting for insurance settlements or other aid programs to take effect. Residents and business owners who do not have adequate insurance coverage can also apply.
To receive the low-interest rate, residents and business owners must secure the loan at a bank or financial institution that participates in the state’s Disaster Recovery linked deposit program. The loan can be up to the costs of repairs and expenses. The Opportunity Illinois loan application must be filed by the bank on the resident’s behalf within 90 days of a state, federal or local official’s natural disaster declaration.
Contact the Treasurer’s Disaster Recovery hotline at (866) 523-0641 to confirm you qualify for the program and to receive a list of participating financial institutions.
3 years ago