WASHINGTON – Illinois small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations affected by the Highland Park parade mass shooting and related investigation on July 4 - 10, may apply for low-interest Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration, SBA Administrator Isabella Casillas Guzman announced today.
Administrator Guzman made the loans available in response to a letter from Illinois Gov. J.B. Pritzker on July 21, requesting a disaster declaration by the SBA. Eligible applicants in the declared area can now apply for low-interest disaster loans from the SBA. The declaration covers Lake County and the adjacent counties of Cook and McHenry in Illinois; and Kenosha in Wisconsin.
“SBA’s mission-driven team stands ready to help Lake County small businesses and private nonprofit organizations impacted by the Highland Park parade mass shooting and related investigation,” said Administrator Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”
To assist businesses affected by the disaster, the SBA will open a Business Recovery Center (BRC) in Highland Park on Thursday, July 28, at 11 a.m.:
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SBA Business Recovery Center (BRC) Lake County First Bank of Highland Park Opening: Thursday, July 28, 11 a.m. – 6 p.m. Hours: Monday – Friday, 9 a.m. – 6 p.m. Open: Saturday, 10 a.m. – 2 p.m. Closed: Sundays Closes Permanently: Thursday, Aug. 11 at 4 p.m.
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Customer Service Representatives will be available at the BRC to answer questions about the disaster loan program and help business owners complete their applications. Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the BRC are encouraged to wear a face mask.
“For eligible applicants, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster,” said SBA’s Illinois District Director Robert Steiner.
Interest rates are 2.935 percent for businesses and 1.875 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 DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17536, not for the COVID-19 incident.
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 25, 2023.
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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.