By Jennifer Fuller
Cairo, IL – The Illinois Treasurer's Office is helping to make low-interest loans available to flood victims in southern Illinois. Treasurer Dan Rutherford announced a partnership with local banks, including Banterra Bank, to offer the loans for businesses and homeowners at up to three-percent interest. Rutherford says he's also made changes to the existing state loan program, which used to require a disaster declaration for property owners to be eligible for the loans.
"If there's a disaster in your home... and you've got mold, and you've got mud, and you've got damage to your property in your business or your home, it doesn't matter what the federal government does as far as declaring a federal disaster area. It's a disaster for you."
The loan program is open to people with or without flood insurance. Amounts are based on the damage estimate related to the disaster.