On March 19th, the U.S. Small Business Administration approved Governor Pritzker's application for an economic injury declaration due to the coronavirus. Now small businesses across the state of Illinois are eligible to apply for Economic Injury Disaster Loans (EIDL) through the SBA.
To apply, log onto the SBA Disaster Loan Assistance application page. If you do not have a login, you can register to create an account.
In addition to the application form, be prepared to submit the following:
The City of Chicago recognizes that coronavirus disease (COVID-19) has put a difficult burden on our small business community.
As a response to this challenge, the City is establishing a $100 million Chicago Small Business Resiliency Fund, which will help to provide small businesses with emergency cash flow during this immediate health crisis. Funds will be provided to eligible businesses as low-interest loans.
This application will go live March 31st. Click the link above to fill out the interest form.
To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, the Illinois Department of Commerce and Economic Oppurtunity (DCEO) is launching the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes. Grant funds are available to support working capital like payroll and rent, as well as job training, retraining, and technology to support operational challenges, like increased pick-up and delivery.
Click the link above to see eligibility requirements and apply.