ATLANTA - The U.S. Small Business Administration (SBA) announced today that it will extend the closing date for the Disaster Loan Outreach Center (DLOC) in Wilmington. The Center was originally scheduled to close on March 29, 2024, but due to increased activity, it will remain open through Friday, April 5, 2024. The SBA opened the center to assist businesses and residents affected by the ice jam and flooding that occurred Jan. 15-25, 2024.
Customer Service Representatives at the SBA’s DLOC will assist business owners and individuals in completing their disaster loan applications, accept documents for existing applications, and provide status on loan applications. The DLOC will operate as indicated below.
Disaster Loan Outreach Center
Will County
Wilmington Lion's Club
Wilmington, IL 60481
Hours: Monday – Friday, 9 a.m. to 6 p.m.
Saturday, 10 a.m. to 2 p.m.
Closed: Sunday
Permanently Closes: Friday, April 5 at 4 p.m.
Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.
Loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $100,000 to repair or replace damaged or destroyed personal property.
Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.688% for homeowners and renters, 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 and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 6592955 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 to return applications for physical property damage is May 13, 2024. The deadline to return economic injury applications is Dec. 13, 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, 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.