Nearly $7 Million in SBA Disaster Loans Approved in Illinois; Deadline to Apply for Physical Damage is July 9

ATLANTA, June 6, 2013 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration has approved nearly $7 million in Disaster Assistance Loans for residents and businesses in Illinois affected by the severe storms, winds and flooding between April 16 and May 5, 2013.   The deadline to file an SBA disaster loan application for physical damage is July 9.

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"Currently 233 disaster loans have been approved in the amount of $6,924,000 for affected survivors," said Frank Skaggs, director of SBA's Field Operations Center East in Atlanta.  "We are pleased to get these loans approved so residents can start to rebuild and resume their normal lives. I encourage anyone who has not completed their disaster loan application to do so before the July 9 deadline."

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.   Homeowners and renters are eligible for loans 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, machinery and equipment, inventory, and other business assets.

For small businesses, small agricultural cooperatives, small businesses engaged in aquacultural, and most private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business suffered any physical property damage.

To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or by mobile device at m.fema.gov. If online or mobile access is unavailable, applicants should call the FEMA toll-free Helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362 (800-462-7585 TTY).  The toll-free telephone numbers will operate from 7 a.m. to 10 p.m. (local time) daily until further notice.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.

Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to [email protected].

The filing deadline to return applications for physical property damage is July 9, 2013.  The deadline to return economic injury applications is February 10, 2014. 

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Contact: Michael Lampton
Email: [email protected] 
Phone: (404) 331-0333

Release Number: 13-585, IL 13579/13580

SOURCE U.S. Small Business Administration

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