Resources For Businesses Affected By COVID-19

LATEST NEWS - UPDATED APRIL 3, 2020

NEW - SBA LOAN GRAPHIC CLICK HERE

NEW - SMA CARES LOAN CALCULATION SHEET: CLICK HERE 

NEW - SIMPLIFIED THREE STEP PROCESS OVERVIEW TO APPLY FOR SBA DISASTER LOANS: CLICK HERE

NEW - STATE OF ILLINOIS - COVID-19 INFORMATION FOR SMALL BUSINESS - CLICK HERE

NEW - STATE OF ILLINOIS - EMERGENCY SMALL BUSINESS GRANTS AND LOANS - CLICK HERE

Governor JB Pritzker announced emergency assistance programs for small businesses throughout Illinois.  The programs which are relevant for Skokie Businesses include a Hospitality Emergency Grant Program which includes Hotels, Bars, Restaurants (CLICK HERE TO APPLY) STATE COVID-19 GRANT ALERT: Calling all Skokie-based hospitality and food and beverage related businesses, please be reminded that applications for the recently enacted State of Illinois’ Hospitality Emergency Grant Program are due WEDNESDAY, APRIL 1, 2020. See here for the simple, easy to complete application. If you have questions regarding the application or  grant program, please contact Len Becker at Len.becker@skokie.org or Leslie Murphy at Leslie.murphy@skokie.org.  In addition the Illinois Small Business Emergency Loan Fund (CLCK HERE FOR INTEREST FORM) which is applicable to most small businesses.  These programs are above and beyond Small Business Administration Disaster Loans (noted below).

APPLY FOR SMALL BUSINESS ADMINISTRATION DISASTER LOAN ASSISTANCE ONLINE 

NEW - Three Step Process Overview- SBA Disaster Loan: CLICK HERE

Economic Injury Disaster Loans are now available for businesses in Illinois. The three-step electronic loan application is being administered by the SBA.  To apply, click on the following link:   https://disasterloan.sba.gov/ela/

Details on SBA Economic Injury Disaster Loans 

All Illinois small businesses and private non-profits can now apply for loans of up to $2 million through the U.S. Small Business Administration’s Economic Injury Disaster Loan Program. If your businesses have been affected by the coronavirus pandemic, this program offers working capital to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves. Interest rates are 3.75% for small businesses and 2.75% for non-profits. 

Find more information for small businesses affected by coronavirus at www.sba.gov/coronavirus. Subscribe to email updates from SBA at bit.ly/SubscribeIL to stay up to date on SBA news and events. SBA resource partners (Illinois Small Business Development Centers, WBDC, SCORE, Veterans Business Outreach Center) stand ready to help. Go to www.sba.gov/local-assistance to find a counselor or mentor.

 You can also email Illinois.do@sba.gov or call (312) 353-4528 (Chicago Office)