Federal Assistance
- Coronavirus Aid Relief and Economic Security (CARES) Act
- U.S. Small Business Administration (SBA) Economic Injury Disaster Loan Program
- Small businesses and private non-profits can apply for loans up to $2 million.
- Program offers working capital for payroll, accounts payable, and fixed debt payments
- Interest rates are 3.75% for small businesses and 2.75% for non-profits.
- Apply as soon as possible, as there are thousands of businesses that are applying for loans across the state. The process takes about 30 days.
- Click here for more information
- Additional SBA Resources
- Information for small businesses affected by coronavirus is available here.
- Follow @SBA_Illinois on Twitter.
- You can also email Illinois.do@sba.gov or call (312) 353-4528 (Chicago office) or 217-(217) 747-8249 (Springfield office) to talk to a Small Business Administration team member directly.
State of Illinois Assistance
- Hospitality Emergency Grant Program
- Tax Delay
- Illinois Small Business Emergency Loan Fund
- Small businesses low-interest loans of up to $50,000.
- Businesses outside Chicago with less than 50 workers and $3 million in 2019 revenue.
- 5-year term; payments deferred 6 months; below-market interest rates.
- Click here for more information
Cook County Assistance
- Cook County COVID-19 Taxes, Fines and Fees Relief Package
- Due dates for Home Rule Taxes like the Alcoholic Beverage Tax, Amusement Tax, Tobacco Tax, and Gasoline and Hotel Accommodations Tax will be pushed back.
- So will numerous fines and fees under the jurisdictions of the Departments of Transportation and Highways, Environment and Sustainability, Revenue, Building and Zoning, and Public Health.
- Click here for more information
Unemployment Benefits
For information from the State of Illinois regarding eligibility for unemployment benefits due to COVID-19 related unemployment, click here.