On Wednesday, March 25, 2020, Governor Pritzker announced several new emergency assistance programs:
Illinois Small Business Emergency Loan Fund
A $60 million fund provides low-interest loans up to $50,000 for businesses with fewer than 50 employees and less than $3 million in revenue in 2019.
Downstate Small Business Stabilization Program
A $20 million program supporting small businesses in suburban and rural counties across Illinois provides grants of up to $25,000.
Hospitality Emergency Grant Program
A new $14 million grant program provides up to $25,000 to eligible bars and restaurants and $50,000 for eligible hotels.
Bars and restaurants with less than $1 million of revenue in 2019 and hotels generating less than $8 million in revenue in 2019 are eligible.
For more information on these programs visit the Illinois Department of Commerce and Economic Opportunity's (DCEO) website:
https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/EmergencySBAIntiatives.aspx
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