SBA Approves 11 Home Loans In McLean County Following June Flooding

The U.S. Small Business Administration (SBA) says it has received more than 50 loan applications from McLean County residents and business owners who experienced flood damage during the late June storms. So far, fewer than a dozen have been approved.

The SBA has issued $427,200 in low-interest, long-term loans to 11 homeowners in the county through Aug. 9. That’s close to $39,000 per loan. The SBA has received 47 home loan applications.

The SBA has not approved any business loans yet. It has received four business loans applications.

Janel Finley, public affairs specialist with the SBA’s Office of Disaster Assistance,

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