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Small Business COVID-19 Resources

I know firsthand the challenges that entrepreneurs face when taking a risk to start a new business and how difficult it can be to run a small business even under ideal circumstances. That's why it is so important that we provide small business owners impacted by COVID-19 with emergency relief. 

Small businesses make up the backbone of our local economy - we need to do everything we can to support them mitigate the economic effects of this crisis. 

Please consider utilizing the following resources to help your small business. 

Federal Action 

The Federal Government passed the CARES Act on March 27, 2020 and the Relief Supplemental Appropriations Act of 2021 on December 27, 2020. These bills contain several important provisions, including:

  • Establishing and maintaining the Paycheck Protection Program which allocates $659 billion to provide forgivable loans to small businesses and nonprofits to maintain their existing workforce and help pay for rent, mortgage, and utilities for up to 8 weeks

  • The Small Business Administration (SBA) COVID-19 Economic Injury Disaster Loan (EIDL) to provide 6 months of working capital to meet financial obligations and operating expenses that could have been met had the disaster not occurred

  • SBA Express Bridge Loans, which enable small businesses who currently have a business relationship with an SBA Express Lender to quickly access up to $25,000

Federal Resources

  • The United States Small Business Administration has approved Illinois' request for a disaster declaration. All Illinois small businesses affected by COVID-19 are now eligible to apply for low-interest disaster loans at www.disasterloan.sba.gov

  • The U.S. Chamber of Commerce has information on resources and ways individuals, or businesses can seek assistance. For more information, please visit: www.uschamber.com/coronavirus or contact 1-800-638-6582. To visit the U.S. Chamber of Commerce's small business resource guide can be found here.

  • The National Main Street program has resources for small businesses and offers community support for those impacted by COVID-19. For more information visit their website here or contact 312-610-5613.

  • The House Committee on Small Business has made congressional and federal resources available on their website here

State and Local Resources

Illinois has many resources available for small businesses:

  • The U.S. Small Business Administration's Illinois District Office can be found here and local assistance information here

  • The State of Illinois Coronavirus resource page can be found here.  

  • The Illinois Department of Commerce and Economic Opportunity Resources can be found here.

  • The IL Treasurer Small Business COVID-19 Relief program can be found here.