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.
The SBA disaster declaration covers the following counties:
Illinois: Boone, DuPage, Lee, Sangamon, and 18 adjacent counties.
Wisconsin: Rock and Walworth.
Starting July 12, 2023, the SBA will open BRCs in Boone, DuPage, Lee, and Sangamon counties at the following locations:
Customer Service Representatives at BRCs are available to answer questions and assist in completing loan applications.
EIDLs are offered to support working capital needs caused by the disaster. Interest rates are as follows:
Terms extend up to 30 years, with loan amounts and terms set by the SBA, based on each applicant’s financial condition.
Note: The filing deadline to return economic injury applications is April 3, 2024.
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!