Coronoavirus Resources

Small Business and Nonprofits
Recently the State of Illinois received its Economic Injury Declaration from the Small Business Administration. The Economic Injury Declaration outlined information for small businesses and non-profits across the state regarding applying for low-interest loans offered by the SBA.

In addition to this information, the Steans Family Foundation (SFF) has listed other relevant links below that may be useful as it relates to navigating opportunities for small businesses and nonprofits as a result of the COVID-19 epidemic.

State Of Illinois Small Business Association (SBA) Loan Program

How to Apply: Small businesses and non-profits can apply for these loans by visiting www.sba.gov/disaster.

Documentation required to apply:

General Loan Information
Currently, the interest rate for small businesses is 3.75% and the interest rate for non-profits is 2.75%. The maximum loan size is $2 million. Long term repayment plans are available. These funds can be used to pay fixed debts, payroll, and other expenses that these organizations may face.

Application Assistance
The Illinois office of the Small Business Administration is hosting twice daily webinars to train small business owners looking to apply for assistance.

The State of Illinois’ staff at the Illinois Department of Commerce & Economic Opportunity is available to assist you with your application.  Per materials we’ve received from the state, if you have questions about the SBA loan program, please contact Andrew Goczkowski at andrew.goczkowski@mail.house.gov

Other Resources