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You are here: Home / State of Illinois

State of Illinois

Taxes
Illinois Income Tax Extension: New deadline July 15, 2020
Illinois Sales Tax Deferral: No interest or penalties on payments due March, April, May

  • Bars & Restaurants: Less than $75,000 in sales tax in FY 2019

Illinois Department of Employment Securities

  • Unemployment Insurance Coverage
Business Assistance Reference Guide

Illinois Department of Commerce & Economic Opportunity
Illinois Department of Financial and Professional Regulation

New Business Interruption Grants Program
The first round of Business Interruption Grants (BIG) will provide $60 million to businesses experiencing losses or business interruption as a result of COVID-19 related closures.
The BIG Program is available for up to 3,500 businesses and DCEO will begin distributing funds to qualifying businesses mid-July. Specifically, the program includes support for:
  • 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
*Applications available for review June 23
*Applications are accepted starting June 26
*Application closes July 7 at 5:00 p.m.

Downstate Small Business Stabilization Program

  • 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.

Non-Profit Funding
GrantWatch.com: schools, artists, musicians, businesses

Past Deadline

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
IL Hospitality Grant Information

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