Deadline Nears For Tornado-Stricken Businesses To File For Loans

NAPERVILLE, IL — The deadline is drawing near for small businesses and nonprofits in and around Naperville that were affected by the June 2021 tornado to apply for capital loans from the U.S. Small Business Administration (SBA).

The low-interest Economic Injury Disaster Loans became available after Gov. J.B. Pritzker filed a disaster declaration with the SBA in the wake of the deadly EF-3 twister that damaged hundreds of homes and businesses between Naperville and Willow Springs in the late hours of Father's Day, 2021.

Economic Injury Disaster Loans are available to businesses that are located in the following counties:

• Cook
• DuPage
• Kane
• Kendall
• Will

Small businesses and nonprofit owners can apply for a loan of up to $2 million to be repaid over a term of no greater than 30 years. Interest rates are less than four percent, according to the SBA website.

The loans are intended to help businesses maintain operating expenses after financial hardship caused by the tornado.

Residents can click the link to apply for disaster loan assistance from SBA. For more information, residents can call 800-659-2955 or email disastercustomerservice@sba.gov. Residents who are deaf or have difficulty hearing are advised to call 800-877-8339.