SBA Disaster Loan Outreach Center to Close November 20; SBA Urges Return of Applications Before the Deadline

The U.S. Small Business Administration announces today that due to a steady decrease of activity, the Disaster Loan Outreach Center located at the DuPage County Complex, Jack T. Knuepfer Building, Wheaton, Illinois will cease operations Thursday, November 20 at the close of business.

The Small Business Administration urges those affected by the disaster to visit the Center before the closing to obtain one-on-one assistance and information about the disaster assistance program. The SBA also encourages homeowners, renters and businesses who received applications to return their completed applications before the December 2 deadline.

“To date we have approved over $5.7 million in SBA disaster loans, but there are thousands of people with disaster loan applications that have not returned them to SBA. I encourage anyone who has not completed their disaster loan application and needs help to meet with a Customer Service Representative at one of the Centers located throughout the disaster area for one-on-one assistance,” added Skaggs.

The SBA offers loans up to $200,000 to repair disaster damaged primary residences. Homeowners and renters are eligible for loans up to $40,000 to replace personal property such as furniture, appliances and clothing. Loans to businesses of all sizes and non-profit organizations are available up to $2 million to repair damage to real estate, machinery, inventory and equipment.

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

Interest rates are as low as 2.875 percent for homeowners and renters and 4.000 percent for businesses with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Business owners unable to visit a Center may obtain an application by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. until 9 p.m., and Saturday and Sunday from 9 a.m. until 9 p.m. EST or by emailing the Customer Service Center at disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to one of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.