Small businesses and residents in DuPage County impacted by the outbreak of storms and tornadoes that rocked the Midwest on March 31-April 1 may be eligible for low-interest loans to aid in recovery, according to the U.S. Small Business Administration.
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Illinois was among the states most heavily hit by the outbreak of tornadoes, flooding and hail as more than 100,000 households and business lost power throughout the state.
Businesses, nonprofit organizations, homeowners and renters can apply for Economic Injury Disaster Loans (EIDL) at a Disaster Loan Outreach Center that will be set up at 1 Friendship Plaza, Addison, according to a DuPage County news release.
The center, open 9 a.m.- 6 p.m. Monday through Friday and 10 a.m.-2 p.m. on Saturdays, is designed to assist the process of applying for a disaster loan. Applicants have until April 3 to file economic injury reports.
The loans may not exceed a 4% interest rate, and are contingent on applicants using the funds for “continuation of health care benefits, rent, utilities and fixed debt payments,” according to the SBA.