RESOURCES AVAILABLE FOR COVID-19 EFFECTED BUSINESS-OWNERS
Loans & Grants
Congress passed a $2.2 trillion program, the Coronavirus Air, Relief, and Economic Security Act (CARES Act), which was signed into law on March 27, 2020 to provide economic relief for individuals, businesses, and the health care industry in response to the growing coronavirus pandemic. This comprehensive aid package includes direct payments to individuals, an expansion of unemployment insurance, and significant aid to large and small businesses
Federal SBA Loan Programs Under the CARES Act
3. SBA Bridge Loans
Enables small businesses who currently have a business relationship with the SBA to access up to $25,000 quickly
4. SBA Debt Relief
The SBA is providing a financial reprieve on payments of existing loans
LOANS AVAILABLE FROM STATE OF ILLINOIS
1. Illinois Small Business Emergency Loans
Enabling small businesses to get low interest loans of up to $50,000
2. Hospitality Emergency Grant Program
To help small hospitality businesses bars, restaurants, hotels up to $25,000
Extension of Tax-FILING Deadlines
Internal Revenue Service has postponed the tax filing and payment deadlines for calendar year taxpayers until July 15, 2020.