COVID-19 Resources for Small Businesses
DCEO is working with partners to launch emergency assistance programs for Illinois small businesses. These initiatives include:
Hospitality Emergency Grant Program
To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, DCEO launched the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes.
Illinois Small Business Emergency Loan Fund
DCEO and the Illinois Department of Financial and Professional Regulation (IDFPR) are establishing the Illinois Small Business Emergency Loan Fund to offer small businesses low interest loans of up to $50,000.
Downstate Small Business Stabilization Program
To support small businesses in downstate and rural counties across Illinois, DCEO is repurposing $20 million in CDBG funds to stand up the Downstate Small Business Stabilization Program.
Call information and details as it relates to the COVID-19 business hotline.
COVID-19 Response Fund has been created to provide support to nonprofits offering support to organizations serving individuals, families and communities hit hardest by the COVID-19 pandemic.
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.