Illinois flood loans available for affected residents - KMOV.com

Illinois flood loans available for affected residents

 

SRPINGFIELD, Ill. (AP) -- Southern Illinois residents, businesses and farmers affected by flooding may be able to take advantage of the state's disaster loan program.

State Treasurer Dan Rutherford said in a news release Thursday loans are available to qualified applicants through the state's Disaster Recovery program. The interest on loans obtained through the program are capped at 3 percent.

The release said loans are made through participating banks. Flood victims who expect reimbursement from insurance can take up to a year to pay off the loans. Others have up to five years.

More information can be found by calling the program hotline at 866-523-0641 or visit www.treasurer.il.gov and click the 'Disaster Recovery' link on the front page

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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