- Business Partner Letters Archive
- Outdoor Dining Guidelines
- Restore Illinois Phase 4: Re-Opening of Indoor Dining & More
Open Application for $220 Million in Business Interruption Grants (BIG) (updated 09/23/20)
Applications for a second round of BIG funding are now being accepted: Program information and Application instructions can be found here. A total of $220 million will be made available for small businesses of all types in Illinois. Grants will be awarded and funded on a rolling basis until funding is depleted. The grant size will be equivalent to two months of expenses, and funding may be used to help businesses with working capital expenses, including payroll costs; rent; utilities; and other operational costs. The BIG program is open to all eligible businesses (for profit and nonprofit) with $20 million or less in 2019 annual revenue and losses due to COVID-19. Of the total funding, $70 million will be invested in Disproportionately Impacted Areas (DIAs) and $60 million in heavily impacted industries. Heavily impacted industries are defined as having annual revenues of $10 million or less; having been closed or operating at a very diminished capacity since mid-March; and likely to continue to do so until Phase 5 of the Restore Illinois Plan. These industries include the following:
- Event spaces
- Music venues
- Performing arts venues
- Indoor recreation
- Amusement parks
- Movie theaters
- Charter/shuttle buses
A series of webinars is available to assist with understanding the application criteria and process:
- September 30, 9:30am-10:30am
- October 7, 9:30am-10:30am
- October 14, 9:30am-10:30am
- October 21, 9:30am-10:30am
Small Business Assistance Grant Available to Help Lake County Companies (updated 07/08/20)
Lake County has launched an important new small business assistance grant fund to help local businesses impacted by COVID-19 reopen and adjust to the new operating environment. The intent of the grant is to cover occupancy and some operating costs for up to four months.
The grants cover 4.5-times average monthly rent, capped at $30,000, and can be used for payroll, business rent/mortgage, utilities, inventory, and incremental COVID-19 related business expenses.
A business must be located in Lake County, have less than $2.5 million in annual revenue and be incorporated - LLC, LLP, S Corporation, Sole Proprietor, etc. Currently, independent contractors are not eligible.
The application window will be open through 11:59 p.m. on Monday, July 20, 2020. For more information go to lakecountyil.gov/forward
Small Business COVID-19 Assistance Information
U.S. Department of the Treasury Assistance for Small Businesses
U.S. Senate Committee & Small Business Entrepreneurship Guide to the CARES Act
U.S. Small Business Administration (SBA) Small Business Guidance & Loan Resources
- Paycheck Protection Program (PPP): The U.S. Small Business Administration (SBA) has released new guidance on the Paycheck Protection Program (PPP) loan forgiveness (here) and review (here) and a PPP Loan Program Report, which details how PPP funds have been spent so far.
- Economic Injury Disaster Loan (EIDL) and Loan Advance: working capital loan issued directly by SBA (vs. lenders).
- Customer Service: Phone: 1-800-659-2955 (TTY/TDD: 1-800-877-8339), Email: firstname.lastname@example.org
- SBA Debt Relief: Under this program, the SBA will pay the principal and interest of new 7(a) loans issued prior to September 27, 2020, or cover principal and interest on current 7(a) loans for a period of six months.
- SBA Express Bridge Loan: This pilot program (Guide here) allows small businesses that currently have a business relationship with an SBA Express Lender to access up to $25,000 with a fast turnaround.
- Guidance to Employers on Critical Infrastructure Workforce
- Subscribe to receive email updates from SBA at bit.ly/SubscribeIL
- SBA resource partners (Illinois Small Business Development Centers, WBDC, SCORE, Veterans Business Outreach Center) stand ready to assist; visit www.sba.gov/local-assistance to find a counselor or mentor.
- Webinars available at www.sba.gov/il
- Follow @SBA_Illinois on Twitter
- Donations – supplies and equipment
- Social channels Facebook, Twitter and LinkedIn
- State of Illinois Executive Orders
- DCEO may be reached at CEO.Support@Illinois.gov or 1-800-252-2923
- The Illinois Manufacturers’ Association (IMA) is working with Governor Pritzker’s office to identify the local capacity to donate, supply and manufacture needed goods. To get involved, submit your information here.
- The Illinois Manufacturing Extension Center (IMEC) is collecting information to make critical connections between manufacturers and suppliers. Click here to submit your company’s information.
- Details on short-term relief from late sales tax payments due to COVID-19 here.
- statewide COVID-19 hotline to answer any questions from the public or to report a suspected case: call 1-800-889-3931 or visit IDPH.illinois.gov
Illinois Small Business Development & International Trade Center, College of Lake County
- Contact business advisors for inquiries or assistance: 847-543-2033, IllinoisSBDC@clcillinois.edu
- Weekly conference calls targeted to the needs of business
View the Center’s Job Opportunities page