Pritzker Okays Disaster Declaration For Schaumburg Senior Apartments

SCHAUMBURG, IL — Following a July 14 fire at the Emerald Village Living facility, the U.S. Small Business Administration has approved a disaster declaration for the facility at 150 W Wise Road. The disaster declaration allows residents, condo homeowners, and businesses to apply for low-interest loans for damages not covered by insurance.

"To those impacted by the July 14 fire at the Emerald Village Senior Apartments building, we are here to support you with resources to help you heal and rebuild," Gov. JB Pritzker said in a statement. "Through the efforts and leadership of IEMA, the Village of Schaumburg, Cook County, and the U.S. Small Business Administration, residents will be able to access low-interest loans for damages and relief."

SBA staff will be at the Village of Schaumburg Nursing and Senior Services, 746 E. Schaumburg Road, starting Monday to help residents with their applications. The Disaster Loan Outreach Center (DLOC) will be open weekdays from 8 a.m. to 5 p.m. and 10 a.m. to 2 p.m. on Saturdays .

The deadline for applying for a loan for physical damage is Oct. 23. The deadline for economic injury loan applications is May 23, 2024. The center closes permanently at 4 p.m. on Monday Sept 11. The DLOC will be closed on Monday, Sept. 4, in recognition of Labor Day.

Homeowners can apply for up to $500,000 in low-interest loans to repair or replace damaged or destroyed real estate. Homeowners or renters can apply for up to $100,000 to repair or replace damaged or destroyed personal property. Businesses and not-for-profits can borrow up to $2 million for physical damages. Details on loans are available at https://disasterloanassistance.sba.gov/ela/s/.