HIGHLAND PARK (WBBM NEWSRADIO) — Highland Park businesses affected by the Fourth of July Parade shooting can get some financial assistance from the Small Business Administration.
Highland Park Mayor Nancy Rotering said the impact goes beyond the businesses near the shooting, which were closed for a week during the investigation.
“Several of our businesses were directly impacted,” Rotering said. “Their employees were shot. Their employees were shot at. They had physical repairs that also needed to be made, and obviously there’s the emotional trauma.”
Congressman Brad Schneider said 153 businesses in Highland Park directly impacted by the shooting — as well as others outside of the perimeter and in neighboring communities — are eligible.
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Regional Administrator Geri Aglipay said the loans, as well as assistance in applying for them, became available after the SBA approved Illinois’ request for a disaster declaration.
“They can use it for working capital [and] payroll expenses," Aglipay said. "As long as they can demonstrate that it had an economic injury to their business, they will be eligible for this."
They were speaking at the Business Recovery Center at the First Bank of Highland Park, which will be open until Aug. 11.
Liliana Tschanett, with the SBA, said it’ll take about two to three weeks to process applications.
Tschanett said the loans will provide up to $2 million at a very low interest rate.
This is separate from $500,000 in grants — not loans — that the city is making available for impacted businesses and nonprofits.
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