Illinois Small Businesses: Recovery Support Following Severe Storms

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The Rockford Small Business Development Center is extending a helping hand to Illinois small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations affected by the severe storms on March 31, 2023. Thanks to the U.S. Small Business Administration (SBA), Economic Injury Disaster Loans (EIDLs) are now available to support these businesses during these challenging times.

Affected Counties and Support Details

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The SBA disaster declaration covers the following counties:

Illinois: Boone, DuPage, Lee, Sangamon, and 18 adjacent counties.
Wisconsin: Rock and Walworth.

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Business Recovery Centers (BRCs)

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Starting July 12, 2023, the SBA will open BRCs in Boone, DuPage, Lee, and Sangamon counties at the following locations:

1. Boone County: 1455 McKinley Ave., Belvidere, IL 61008
2. Opens: July 12, 11 a.m. – 6 p.m.
3. Operating hours: Monday – Friday, 9 a.m. – 6 p.m.; Saturday, 10 a.m. – 2 p.m.
4. Closed: Sunday
5. Closes permanently: July 22 at 2 p.m.
6. DuPage County: Addison Village Hall, 1 Friendship Plaza, Addison, IL 60101
7. Similar opening hours to Boone County
8. Closes permanently: July 26 at 4 p.m.
9. Lee County: Lee County Courts Building, 309 S. Galena Ave., Dixon, IL 61021
10. Closes permanently: July 26 at 4 p.m.
11. Sangamon County: Sherman Village Hall, 401 St John Dr, Sherman, IL 62684
12. Closes permanently: July 24 at 4 p.m.

Customer Service Representatives at BRCs are available to answer questions and assist in completing loan applications.

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Economic Injury Disaster Loans (EIDL)

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EIDLs are offered to support working capital needs caused by the disaster. Interest rates are as follows:

• Businesses: 4 percent
• Nonprofit organizations: 2.375 percent

Terms extend up to 30 years, with loan amounts and terms set by the SBA, based on each applicant’s financial condition.

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How to Apply for an EIDL

1. Online: Use the Electronic Loan Application (ELA) via SBA’s secure website (SBA declaration # 17983).
2. Phone: Call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing).
3. Email: Email at DisasterCustomerService@sba.gov.
4. Mail: Download applications at sba.gov/disaster and mail to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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

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Conclusion

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The Rockford Small Business Development Center, together with the SBA, is committed to assisting the businesses affected by the recent severe storms. These support measures ensure that businesses and communities have the necessary resources to rebuild and thrive. If your business is within the affected regions, please reach out to us or the SBA to make use of the disaster relief options available. Together, we will rebuild and strengthen our communities!

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