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:
| SBA Business Recovery Center (BRC) Boone County 1455 McKinley Ave. Belvidere, IL 61008 Opening: Wednesday, July 12, 11 a.m. – 6 p.m. Open: Monday – Friday, 9 a.m. – 6 p.m. Saturday, 10 a.m. – 2 p.m. Closed: Sunday, Closing Permanently: Saturday, July 22 at 2 p.m. |
SBA Business Recovery Center (BRC) DuPage County Addison Village Hall 1 Friendship Plaza Addison, IL 60101 Opening: Wednesday, July 12, 11 a.m. – 6 p.m. Open: Monday – Friday, 9 a.m. – 6 p.m. Saturday, 10 a.m. – 2 p.m. Closed: Sunday, Closing Permanently: Wednesday, July 26 at 4 |
| SBA Business Recovery Center (BRC) Lee County Lee County Courts Building 309 S. Galena Ave. Dixon, IL 61021 Opening: Wednesday, July 12, 11 a.m. – 6 p.m. Open: Monday – Friday, 9 a.m. – 6 p.m. Saturday, 10 a.m. – 2 p.m. Closed: Sunday, Closing Permanently: Wednesday, July 26 at 4 p.m. |
SBA Business Recovery Center (BRC) Sangamon County Sherman Village Hall 401 St John Dr - Google Maps Sherman, IL 62684 Opening: Wednesday, July 12, 11 a.m. – 6 p.m. Open: Monday – Friday, 9 a.m. – 6 p.m. Saturday, 10 a.m. – 2 p.m. Closed: Sunday, Closing Permanently: Monday, July 24 at 4 p.m. |
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.