MARCH 15, 2020

An Urgent Letter
For Our Small Businesses

The Small Business Administration (SBA) has received authorization to provide assistance to small businesses that have been or will be potentially impacted by COVID-19 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 state has not yet received a disaster declaration, so the EIDL program is not yet available to Illinois businesses and non-profits. First, it is imperative that our partners at the State are able to quantify economic impact on small businesses in order to release SBA assistance through the EIDL program.

If you are or expect to be an affected small business, please submit your information to the Illinois Department of Commerce & Economic Opportunity through the button below.

The Small Business Administration is working with the State of Illinois to submit Governor Pritzker’s request for a declared disaster area. To accomplish this, the state is identifying businesses who have experienced substantial economic injury. This step is important as a county can only qualify if they either a) have an identified business that has suffered economic injury, or b) the county is contiguous to a declared county. Once the state has pulled together its request, it goes to the SBA for review. Once a disaster is declared, the EIDL becomes available for businesses located in declared counties.


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