ATLANTA - The U.S. Small Business Administration’s Office of Disaster Recovery and Resilience announced opening of a second Business Recovery Center (BRC) in Oak Forest, IL. The center will be located at the Oak Forest Municipal Complex beginning Friday, Dec. 8.
COOK COUNTY
Business Recovery Center
Oak Forest Municipal Complex
Oak Forest, IL 60452
Opens at 12 p.m. Friday, Dec. 8
Mondays – Fridays, 9 a.m. – 5:30 p.m.
Closed on Saturday and Sunday
SBA continues to provide one-on-one assistance to disaster loan applicants at the following location on the days and times indicated. No appointment is necessary.
COOK COUNTY
Business Recovery Center
SBA District Office
332 S. Michigan Ave, Suite 600
Chicago, IL 60604
Mondays – Saturdays, 8 a.m. – 5 p.m.
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 4 % for businesses, and 2.5 % for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. Interest does not accrue and payments are not due until twelve months from the date of the first disbursement.
To be considered for all forms of disaster assistance, survivors must first register with the Federal Emergency Management Agency at www.disasterassistance.gov.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659 2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The filing deadline for returning applications for property damage is Jan. 19, 2024. The deadline to apply for economic injury application is Aug. 20, 2024.
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About the U.S. Small Business Administration
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 or 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.