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Illinois disaster loan centers remain open until Aug. 28
For the Daily Gate City
SPRINGFIELD, Ill. - The U.S. Small Business Administration announced that Disaster Loan Outreach Centers and the Business Recovery Center will remain open in Illinois through Thursday, Aug. 28.
The SBA is remaining in Illinois to make it convenient for disaster victims affected by the severe storms and flooding from June 1 through July 22 to apply for disaster loan assistance.
All Disaster Loan Outreach Centers will close Thursday, Aug. 28 at the close of business.
The local center is at the Dallas City Elementary School, 921 Creamery Hill Road, Dallas City, Ill.
Hours are from 9 a.m. to 5:30 p.m. Monday through Friday.
Disaster victims are urged to register with FEMA by calling 1-800-621-3362.
“If you were issued an SBA loan application, complete and return the application to the SBA by the deadline Monday, even if you don't want a loan,” said Frank Skaggs, director of SBA Field Operations Center East. “If the SBA is not able to approve you for a home loan, you will be referred to FEMA's Other Needs Assistance Program for possible grant assistance. Anyone who has not completed their disaster loan application is encouraged to meet with one of the customer service representatives at any of the centers located in Hancock, Rock Island or Winnebago counties for one-on-one assistance.”
Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, inventory, machinery and equipment. The SBA can also lend additional funds from its mitigation program to help with the cost of making improvements that minimize the same type of disaster damage in the future.
For small businesses, and most private, non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster.
Economic Injury Disaster Loans assistance is available regardless of whether the business suffered any property damage.
Interest rates are as low as 2.687 percent for homeowners and renters, and 4.000 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant's financial condition.
Anyone unable to visit one of the centers may obtain a disaster loan application or program information by calling the SBA's Customer Service Center at 1-800-659-2955 or 1-800-877-8339 for the hearing impaired from 8 a.m. to 9 p.m. Monday through Friday and 9 a.m. to 6 p.m. Saturday and Sunday or by e-mailing the customer service center at disastercustomerservice@sba.gov.
Business loan applications may be downloaded from www.sba.gov/services/disasterassistance.
Applications may be returned to one of the Centers or mailed to: U. S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.
Victims may also apply for disaster loans from SBA's secure Web site at https://disasterloan.sba.gov/ela/.
The filing deadline to return applications for physical property damage is Monday.
The deadline to return economic injury applications is March 23, 2009.
SPRINGFIELD, Ill. - The U.S. Small Business Administration announced that Disaster Loan Outreach Centers and the Business Recovery Center will remain open in Illinois through Thursday, Aug. 28.
The SBA is remaining in Illinois to make it convenient for disaster victims affected by the severe storms and flooding from June 1 through July 22 to apply for disaster loan assistance.
All Disaster Loan Outreach Centers will close Thursday, Aug. 28 at the close of business.
The local center is at the Dallas City Elementary School, 921 Creamery Hill Road, Dallas City, Ill.
Hours are from 9 a.m. to 5:30 p.m. Monday through Friday.
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“If you were issued an SBA loan application, complete and return the application to the SBA by the deadline Monday, even if you don't want a loan,” said Frank Skaggs, director of SBA Field Operations Center East. “If the SBA is not able to approve you for a home loan, you will be referred to FEMA's Other Needs Assistance Program for possible grant assistance. Anyone who has not completed their disaster loan application is encouraged to meet with one of the customer service representatives at any of the centers located in Hancock, Rock Island or Winnebago counties for one-on-one assistance.”
Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, inventory, machinery and equipment. The SBA can also lend additional funds from its mitigation program to help with the cost of making improvements that minimize the same type of disaster damage in the future.
For small businesses, and most private, non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster.
Economic Injury Disaster Loans assistance is available regardless of whether the business suffered any property damage.
Interest rates are as low as 2.687 percent for homeowners and renters, and 4.000 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant's financial condition.
Anyone unable to visit one of the centers may obtain a disaster loan application or program information by calling the SBA's Customer Service Center at 1-800-659-2955 or 1-800-877-8339 for the hearing impaired from 8 a.m. to 9 p.m. Monday through Friday and 9 a.m. to 6 p.m. Saturday and Sunday or by e-mailing the customer service center at disastercustomerservice@sba.gov.
Business loan applications may be downloaded from www.sba.gov/services/disasterassistance.
Applications may be returned to one of the Centers or mailed to: U. S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.
Victims may also apply for disaster loans from SBA's secure Web site at https://disasterloan.sba.gov/ela/.
The filing deadline to return applications for physical property damage is Monday.
The deadline to return economic injury applications is March 23, 2009.
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