“I had to replace siding, windows and the roof, rebuild two porches, and I still had to survive,” he said. “The loan came in very handy. I am fortunate for it.”

Philip Gebhart


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Participating Financial Institutions

Under the Community Invest: Disaster Recovery Program, the Treasurer’s Office provides an interest rate reduction to storm victims whose property has sustained weather-related damage.

The low-interest loans are available to residents, business owners and farmers living in disaster areas in Illinois who are waiting for insurance settlements or other aid programs to take effect. Additionally, residents, business owners and farmers 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 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.

Amounts and Terms:

  • The amount is based on the estimated costs of repairs and expenses related to the disaster.
  • The term of the loan is negotiated between the consumer and financial institution for any number of years. The Treasurer's Office may participate by depositing funds in the financial institution for up to the first five years of the loan, making an initial commitment of two years, with the ability to renew for an additional three years based upon satisfactory project compliance with the program guidelines.

Interest Rates:

  • The maximum interest rate on the loan may not exceed the associated deposit rate by more than 2.0% during the term of the Treasurer’s participation in the loan.  For specific rate information please click here.

Program Eligibility:

  • The loan must be used to pay the costs of repairs and expenses related to disaster recovery.

For more information about the loan possibilities for your family, e-mail Community Invest at CommunityInvest@illinoistreasurer.gov or call the Disaster Recovery hotline at (866) 523-0641. Lenders with questions should call our banking division at (217) 782-2072.

Program History:

Since the program was started in May 1995, the Treasurer's Office has backed more than $48.6 million in low-interest loans to storm victims in Illinois. The Treasurer's Office backed $60,200 in low-interest loans to victims of natural disasters in Mt. Prospect, Elgin and Woodstock in 2007, with the loan amount peaking at $33.4 million in 2005.

Personal Experience:

Philip Gebhart, Village of Jerome

Between 8:20 and 8:30 p.m. on March 12, 2006, the Springfield area was hit by a pair of tornadoes.

Philip Gebhart’s home in the village of Jerome withstood the 120 mph winds, but not the blowing debris.

A neighbor’s roof and a tree crashed into the truck driver’s single-story house, damaging his roof, siding and windows. His insurance company was responsive, but he still came up short.

Gebhart and his bank turned to the Illinois State Treasurer’s Office for a $7,000 low-interest loan to bridge the gap.

“I had to replace siding, windows and the roof, rebuild two porches, and I still had to survive,” he said. “The loan came in very handy. I am fortunate for it.”

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