I am contacting you to share proactive measures to address the challenges small businesses face due to the impacts of the coronavirus (COVID-19). While the situation is rapidly evolving, I’d like to share what resources are available now and those that are in the pipeline.
- The SBA has received authorization to provide small business assistance through the Economic Injury Disaster Loan (EIDL) program. This program can provide low interest loans of up to $2M to businesses and private non-profits. The attached document discusses the Economic Injury Disaster Loan (EIDL) program and provides high level information related to the loan caps, use of proceeds, and interest rates. It’s important to recognize that the state has not yet received a declaration, so the EIDL program is not yet available to Illinois businesses and non-profits.
- The Illinois Department of Commerce and Economic Opportunity (DECO) has just released a survey for small businesses that are affected by the COVID-19 virus. Small business owners are being asked to help through your participation in the survey so our State leadership can best understand the impact COVID-19 on small businesses in Illinois. Please help the state identify affected businesses by completing this survey
- Stay informed! Up to date information regarding COVID-19 from:
All employers should be ready to
implement strategies to protect their workforce
from the Coronavirus while ensuring continuity of operations.