ATLANTA, Jan. 6, 2014 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding business owners in Illinois that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations affected by the severe storms, winds and flooding from April 16 through May 5, 2013.
"Businesses that suffered economic losses as a result of the disaster and want to apply for
low-interest working capital loans from the SBA are urged to do so before the Feb. 10, deadline," said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 2.875 percent for private
non-profit organizations of all sizes and 4 percent for small businesses, with terms up to
30 years. The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, eligible entities need to apply by the deadline.
These EIDLs are available to small businesses and most private non-profit organizations in Adams, Boone, Brown, Bureau, Calhoun, Carroll, Cass, Champaign, Clark, Coles, Cook, Crawford, Cumberland, DeKalb, Douglas, DuPage, Edgar, Ford, Fulton, Greene, Grundy, Hancock, Henderson, Henry, Jasper, Jersey, Kane, Kankakee, Kendall, Knox, La Salle, Lake, Lawrence, Lee, Livingston, Logan, Marshall, Mason, McLean, McDonough, McHenry, Menard, Mercer, Morgan, Moultrie, Ogle, Peoria, Pike, Piatt, Putnam, Richland, Rock Island, Schuyler, Scott, Stark, Stephenson, Tazewell, Vermilion, Warren, Whiteside, Will, Winnebago and Woodford counties in the State of Illinois; Knox, Lake, Sullivan and Vigo counties in the State of Indiana; and Green, Kenosha, Rock and Walworth counties in the State of Wisconsin.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to email@example.com. Loan application forms can also be downloaded from www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline for economic injury applications is February 10, 2014.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov/disaster.
Release Number: 14-075, IL 13580
Contact: Michael Lampton
Phone: (404) 331-0333
SOURCE U.S. Small Business Administration