Economic Injury Disaster Loan Programs
25 Sep 2020
All Illinois small businesses can again apply for the EIDL. The SBA is offering low-interest federal disaster loans for working capital to small businesses and non-profit organizations that are suffering substantial economic injury as a result of COVID-19. While the EIDL Advance is no longer available, businesses can still apply for the EIDL loan.
- These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan. The interest rate is 3.75% for small businesses and 2.75% for non-profits. The first payment is deferred for one year.
- EIDL applications that have already been submitted continue to be processed.
Downstate Small Business Stabilization ProgramSep 25 2020
We continue to accept applications under this program. This program will offer small businesses with at least one employee (not including the owner) and up to 50 employees the opportunity to partner with their local governments to obtain grants of up to $25,000 for 60 days of working capital. Grant...
Get Hired IllinoisSep 25 2020
DCEO in conjunction with IDES launched the Get Hired Illinois. This is a new portal designed to connect workers with available job and career training opportunities across the state. Governor Pritzker also announced that beginning in June, Illinois residents will have free access to online workforce development courses via a...
Local CURE Support ProgramSep 25 2020
Local Coronavirus Urgent Remediation Emergency (Local CURE) Support Program: Through this program, the State will take steps to deploy $250 million to local governments in the coming months to help local governments secure reimbursement on eligible costs associated with the emergency response to the ongoing COVID-19 crisis. DCEO has posted...