SBA Announces Four Business Recovery Centers Are Opening in Illinois On July 12 to Assist Small Businesses Affected by Severe Storms

ATLANTA – Illinois small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations affected by the severe storms in Illinois, on March 31, 2023, are eligible to apply for low-interest Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA).

The SBA disaster declaration covers Boone, DuPage, Lee and Sangamon counties and the adjacent counties of Bureau, Cass, Christian, Cook, DeKalb, Kane, Kendall, LaSalle, Logan, Macon, Macoupin, McHenry, Menard, Montgomery, Morgan, Ogle, Whiteside, Will and Winnebago in Illinois; and Rock and Walworth in Wisconsin.     

To assist businesses affected by the disaster, the SBA will open Business Recovery Centers (BRCs) in Boone, DuPage, Lee and Sangamon counties on Wednesday, July 12, 2023, at the locations and time as indicated below:

Customer Service Representatives will be available at the BRC to answer questions about the disaster loan program and help business owners complete their applications.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster.

Interest rates are 4 percent for businesses and 2.375 percent for nonprofit organizations, with terms up to 30 years.  Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/ and should apply under SBA declaration # 17983.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return economic injury applications is April 3, 2024.

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About the U.S. Small Business Administration 

Recently, U.S. SBA Administrator Isabella Casillas Guzman announced a policy change granting 12 months of no payments and 0 percent interest.  This pertains to all disaster loans approved in response to disasters declared on or after Sept. 21, 2022, through Sept. 30, 2023. This policy change will benefit disaster survivors and help them to decrease the overall cost of recovery by reducing the amount of accrued interest they must repay. Details are available through the SBA Disaster Assistance Customer Service Center at 800-659-2955. Individuals with verbal or hearing impairments may dial 7-1-1 to access telecommunications relay services from 8 a.m. to 8 p.m. ET, Monday to Friday, or email: DisasterCustomerService@sba.gov. 

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.