The small business community is struggling to recover from the COVID-19 pandemic. On July 1st, the Pritzker Administration announced that the State of Illinois and the Small Business Association will be investing $6.4 million in seven (7) new Small Business Development Centers (SBDC). This funding will be supplemented with $5.1 million from partner organizations.
Local business organizations and community colleges will operate these SBDCs. Five (5) will be stood up in Chicago. The SBDCs will provide free services for small businesses applying for funding through the Business Interruption Grant Program (BIG) and the Rebuild Distressed Communities Programs, both of which are aimed at aiding businesses hurt by the pandemic and the civil unrest following the death of George Floyd. The funds will also go towards supporting existing SBDCs.
The SBAC applauds the Governor’s efforts to provide resources to small businesses. We also are asking the Governor and Illinois policymakers to adopt the SBAC’s legislative agenda which will help small businesses through these difficult times. You can find some of our policy initiatives here: SBAC Advocacy Agenda