Low-interest loan program, special unemployment available for Ill. flood victims

Friday, June 17, 2011

Some people in Southern Illinois are now eligible for low-interest loans and special unemployment assistance as they recover from spring flooding.

The state treasurer's office announced Thursday a program to help Southern Illinois residents, businesses and farmers obtain low-interest loans to recover from weather-related damage to their property. The program caps the interest rate at three percent for qualified borrowers at participating financial institutions, making repairs more affordable.

City National, Banterra, City National of Metropolis and Legence Bank are partnering with the state treasurer's Disaster Recovery program. For more information, flood victims may call the Illinois state treasurer's Disaster Recovery Hotline at 866-523-0641 or visit www.treasurer.il.gov.

The state government also reported the federal government approved Gov. Pat Quinn's request for disaster unemployment assistance in 14 Southern Illinois counties affected by flooding, including Alexander County. The assistance helps those who were unable to work because of spring flooding.

Aid applications will be handled by the Illinois Department of Employment Security, and must be filed by July 16. Office locations are available by calling (888) 367-4382 or visiting www.ides.illinois.gov. Individuals are eligible for up to 26 weeks of benefits as long as their unemployment continues to be a result of the disaster. Eligibility for benefits will be determined on a week-to-week basis.

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