COVID-19 Small Business Loans

From: Tuesday, March 24th, 2020
To: Thursday, December 31st, 2020

We will update the links as new information about disaster/recovery business loans become available.

Click here for the latest information as it becomes available through the Illinois Chamber of Commerce with links from all the government entities.

Paycheck Protection Loan Program:

Here is a slide deck that offers an explanation of how to navigate the Paycheck Protection Program when applying for SBA and EIDL loans:  PPP Slide handouts

Sample Application for Paycheck Protection Loan Program:

https://www.sba.gov/document/sba-form–paycheck-protection-program-ppp-sample-application-form

Economic Injury Disaster Loan Application:

https://covid19relief.sba.gov/#/

These loans can be applied for online-direct from the SBA using the link above- No personal guarantee or collateral required.  You have the option of a $10,000 advance on the loan which will be direct deposited into your selected bank account within 3 days of approval.  These loans may be forgiven if used for payroll expenses-the rules are being clarified on a daily basis.  No payments for the first 6 months.  

DCEO Small Business Loan Programs:

Illinois Small Business Updates – COVID-19 – District 65

Coronavirus Business Loans from First American Bank:

https://www.firstambank.com/coronavirus-business-loan-programs

Disaster Loan Assistance:

https://disasterloan.sba.gov/ela/Account/Register1

SBA Economic Injury Disaster Loan Information:

https://www.sba.gov/sites/default/files/articles/EIDL_-_Small_Business_Training_-_3-23-20.pdf