Business Assistance Programs During COVID-19

State of Illinois Offering Round 2 of the Business Interruption Grant (BIG) Program

 
The State of Illinois is offering more grant assistance to eligible businesses through their Business Interruption Grant (BIG) Program. The Illinois Department of Commerce and Economic Opportunity is overseeing this grant application and more information on this grant can be viewed by clicking here to access the State of Illinois website dedicated to this grant. Please note, this is a State of Illinois grant so please call the Illinois Department of Commerce and Economic Opportunity at 800-252-2923 or via email at: ceo.firststop@illinois.gov. Funds are limited for this grant and the applications will only be accepted until the funding runs out so please consider applying as soon as possible if your business/organization qualifies.

The State of Illinois also hosted a webinar om September 23, 2020 regarding the BIG Program Round 2 Application. You can watch the entire webinar by clicking on this link - https://vimeo.com/461116512

State of Illinois Treasurer's Office Offers Near-Zero Interest Loans to Assist Businesses

The Illinois Treasurer’s Office has made up to $500 million available to small businesses impacted by COVID-19 as a zero interest loan.  Qualifying businesses need to work with approved lenders and credit unions to apply for this loan.  A list of financial institutions that are participating in this program can be viewed by clicking here.

Funds associated with this program are still available. For more information, please click here to go to the Illinois State Treasurer’s Website.

Cook County COVID-19 Community Recovery Initiative

As part of Cook County’s ongoing COVID-19 Community Recovery Initiative efforts, the Bureau of Economic Development, in partnership with more than 35 county-wide organizations, is providing critical support for small businesses impacted by the COVID-19 pandemic. Program offerings include:

     • $10,000 Grants for small businesses (less than 20 employees) in suburban Cook County
     • Cook County / Chicago Business Advising Program
     • Business Resiliency Webinars
     • Applications are open now and will close October 6, 2020 at 5 p.m.
     • Find eligibility and applications here: cookcountysmallbusinessassistance.com 

Download the Cook County Recovery Initiative Flyer (PDF) 

 

COVID-19 Economic Disaster Loans

In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all the U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan (EIDL). The EIDL program is designed to provide economic relief for such businesses experiencing a temporary loss of revenue due to COVID-19. The U.S. Small Business Administration (SBA) is currently accepting new EIDL applications from all qualified small businesses listed above. 

For more information on EIDL and to learn how to apply visit:
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loans#section-header-0)/ .

The loan application can be accessed directly here.
 

If business owners have questions about the EIDL application or problems providing the required information, please contact the SBA Customer Service Center at 1-800-659-2955 or (TTY: 1-800-877-8339) or visit: DisasterCustomerService@sba.gov.

Frequently asked questions