Dear Frankfort Chamber members,
In our continued efforts to keep you updated, please note the following:
Economic Injury Declaration Update
- Governor Pritzker and the Illinois Department of Commerce & Economic Opportunity (DCEO) have now submitted the necessary documentation to declare a statewide Economic Injury Declaration with the United Small Business Associan (SBA), covering all of our 102 counties.
- Once a declaration is made by the SBA, the information on the application process for Economic Injury Disaster Loan assistance will be made available to affected small businesses within the state.
- SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
- The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
- SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years.
- Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
- For additional information, please visit SBA.gov/disaster, or for questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail firstname.lastname@example.org.
US Chamber of Commerce tool kit:
- The U.S. Chamber of Commerce put together this toolkit to help businesses and citizens alike understand how to navigate the coronavirus.
- There are guidelines on how small business owners can ensure they are keeping their customers and employees safe.
- This toolkit also includes a business preparedness checklist to help you figure out what to prioritize and to create a plan of communication for your employees.
Please continue to visit our Frankfort Chamber website for updated member information and resources.
. We will continue to update both our website and
on a regular basis with information as it becomes available to us. Please do not hesitate to contact us with any way we can assist you, or inform us how you are willing to assist others.
Wishing you safety and health,