Assistance for Businesses Impacted by the Highland Park Parade Shooting

Dear Friend,

The horrific attack on the Highland Park Independence Day Parade temporarily turned the vibrant and busy business center of Downton Highland Park into an active crime scene. Due to investigations, shops and restaurants in the area did not get a chance to reopen until July 10th. The time spent closed has created challenges for businesses as they rely on foot traffic to generate sales, pay employees, and keep the lights on.

Small businesses are some of the most important pillars of the community. That's why we must come together and support them as we have for the rest of our community. As businesses begin to reopen and get back to work, I am happy to share a new resource. The U.S. Small Business Administration (SBA) is offering low-interest federal loans for disaster-related losses.

These low-interest loans are known as Economic Injury Disaster Loans (EIDLs) and help small businesses and most private, non-profit organizations meet financial responsibilities they cannot meet because of the tragedy. The loans can be worth up to $2 million and are available to small businesses in Lake, McHenry, or Kenosha Counties affected by the shooting between July 4-10. The deadline to Apply is April 25th, 2023.

Those interested in applying for a loan can do so online or in person at the First Bank of Highland Park beginning Thursday, July 28th.

SBA Business Recovery Center (BRC)
First Bank of Highland Park
1835 First Street Highland Park, IL 60035

Opening: Thursday, July 28, 11 a.m. - 6 p.m.
Monday - Friday, 9 a.m. - 6 p.m.
Saturday, 10 a.m. - 2 p.m.
Closed on Sundays
Closes Permanently: Thursday, Aug. 11 at 4 p.m.
I encourage small businesses to follow up on this opportunity and spread the word.

My team will be happy to provide information and assistance to those who submit applications to the SBA. Don't hesitate to contact my office at (847) 383-4870 or contact my office online for help finding the status of an application or troubleshooting issues in the approval process.

With the support of surrounding communities and organizations, Highland Park will come back stronger than ever from its journey of healing and recovery. Trust, care, and help from friends, family, and neighbors will continue to flow and provide strength. On my part, I will continue to support you in your needs and fight for the success of small businesses across our district.

Please read below for exact details on this new SBA program.

Stay strong, stay safe, stay healthy.
Sincerely,

Bradley S. Schneider
Member of Congress

The SBA is offering disaster assistance in the form of low interest loans to businesses, nonprofit organizations, homeowners located in regions affected by declared disasters. SBA also provides eligible small businesses and nonprofit organizations with working capital to help overcome the economic injury of a declared disaster.

Disaster Loan Assistance Available:

Economic Injury Disaster Loans (EIDLs) - Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.

Where to Apply:

In Person at the Business Recovery Center (BRC):

First Bank of Highland Park
1835 First Street
Highland Park, IL 60035

OPENS: Thursday, July 28 at 11 a.m.
Hours: Monday to Friday, 9 a.m. to 6 p.m.; Saturday 10 a.m. to 2 p.m. Closed: Sunday
CLOSES PERMANENTLY: Thursday, Aug. 11 at 4 p.m.

Online at:DisasterLoanAssistance.sba.gov/ela/s

Contact Information:

Small Business Administration:

Email:[email protected]

For questions or assistance, call (800) 659 2955, Monday through Friday, 7 a.m. 7 p.m.

Credit Requirements:

Credit History - Applicants must have a credit history acceptable to SBA.
Repayment - Applicants must show the ability to repay the loan
Collateral - Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.

Loan Eligibility Restrictions:

Noncompliance - Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain required flood insurance and/or hazard insurance on previous SBA loans.

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