COVID-19 Resource Center
We are committed to bringing you the most up-to-date and relevant information regarding the COVID-19 Pandemic, and how to navigate the tough times that Illinois small businesses are facing. Below are a multitude of resources that we encourage you to look at.
Check out these tools for access to capital
DCEO Launches New Small Business Relief Program
DCEO recently launched its business interruption grants program (BIG) which will provide $60 million in support of small businesses that are seeing steep loses in revenue or business interruption due to the COVID-19 pandemic. This program is available for a maximum of 3,500 businesses with limited capacity to operate due to public health related closures. … more
Cook County Access to Capital Program Goes Live
As of June 8th, 2020, Cook County will begin receiving application for their Community Recovery Fund which will provide zero-interest loans of up to $20,000 for small businesses and up to $10,000 for independent contractors. Applicants must be based in suburban Cook County. Additional eligibility requirements are listed below: Small Businesses are eligible if they are: … more
Congress Passes Legislation That Alters PPP
The Senate passed the Paycheck Protection Flexibility Act (PPFA) on June 3rd, 2020. This legislation amends the Paycheck Protection Program (PPP) by the following: The PPFA would change loan forgiveness criteria by requiring borrowers to use at least 60% of their PPP loan for payroll costs (salary, wages, benefits) and 40% for non-payroll related costs … more
Learn from experts and legislators about what you can do to help your business navigate this time of uncertainty
The COVID-19 pandemic is having a devastating impact on individuals, families, and communities. This pandemic is also creating financial hardship for small businesses. The SBAC is fighting to help small businesses stay afloat and retain their employees by helping the small business community navigate these difficult times. Please consider supporting the SBAC by making a contribution.