Federal Assistance

• Paycheck Protection Program
  • The U.S. Small Business Administration (SBA) will provide $349 billion in loans through the Paycheck Protection Program to small businesses and non-profits. Portions of these loans will be forgiven to the extent that recipients maintain their existing workforce or rehire. Loans can be up to $10 million and interest rates are maxed at 4% for portions of the loan that do not qualify for loan forgiveness. Learn more here. Coronavirus Aid Relief and Economic Security (CARES) Act.  Click here for more information
•  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
  • Grants for restaurants, bars, and hotels
  • Deadline is April 1
  • Selection via lottery – Awardees notified April 4
  • Click here for more information
• Tax Delay
  • State and local sales tax deferment for small to medium-sized bars and restaurants
  • Click here for more information
• 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

Emergency Resources for Workers

• State of Illinois Emergency Resources for Workers: click here
• Federal Stimulus Package Unemployment Benefits FAQ: click here
• Cook County Resident Resources:
  • General information – https://www.cookcountyil.gov/service/information-covid-19
  • Who’s Hiring Now click here