Illinois Department of Commerce & Economic Opportunity
Illinois Department of Financial and Professional Regulation
- Businesses in Disproportionate Impacted Areas (DIAs) – $20 million for businesses that are located in a subset of DIAs that have recently experienced significant property damage, providing 1,000 grants of $20,000 each
- Bars and Restaurants – $20 million for bars and restaurants unable to offer outside service, providing at least 1,000 grants of up to $20,000 each
- Barbershops and Salons – $10 million for barbershops and salons, providing 1,000 grants of $10,000 each
- Gyms and Fitness Centers – $10 million for gyms and fitness centers that have lost significant revenue due to COVID-19, providing 500 grants of $20,000 each
- Partnership with local government on grants up to $25,000 in working capital only (salaries, operating expenses, inventory, advertising, marketing expenses). Must work through local government, City of Quincy, IL. City Hall : (217) 228-4515 or (217) 228-4575
- Grants offered on a rolling basis.
- Small businesses with less than 50 employees
- Requires monthly/quarterly reporting.
Illinois State Treasurer
Small Business Relief Program – Business Invest Program: IL State Treasurer partnership with approved financial institutions.
- Partnership with financial institutions
- Business and non-profits to overcome LOSS OF REVENUE
- Have less than $1mil in liquid assets or $8mil average annual receipts
- Reporting required
- Financial Institution Application
- Up to $250M in deposits available to financial institutions throughout the state, at near-zero rates to assist small businesses and nonprofits
IL Small Business Emergency Loan Fund | Submit Expression of Interest
- Businesses outside City of Chicago,
- Small businesses with less than 50 employees + $3M revenue in FY2019
- Low interest up to $50,000
- No payments for six months, make fixed payments at below market interest rate for five-year loan term.
Illinois Hospitality Emergency Grant Program | Due 4/1/2020
- Bars & restaurants | Less than $500,000 annual in FY2019 = up to $10,000
- Bars & restaurants | Between $500,000 and $1M annual in FY2019 = up to $25,000
- Hotels | Less than $8M annual = up to $50,000