The state is now in Phase 4 of the Restore Illinois plan, a move that ushered employees back to work and instituted new guidelines by industry. To help businesses operate in this phase. View the new state guidelines.
Resources to help business owners and nonprofits operate at this time:
The funding situation is constantly changing. The Illinois State Treasurer has published a COVID-19 Financial Tool Kit to help small businesses and nonprofits. To view it,
U.S. Congressman Brad Schneider's office keeps track of current funding options for businesses and nonprofits. For current options, read on and/or
The Department of Commerce and Economic Opportunity (DCEO) announced the launch of its first round of Business Interruption Grants (BIG), which will provide $60 million to businesses experiencing losses or business interruption as a result of closures related to the COVID-19 pandemic.
Round 1 has closed.
VISIT illinois.gov/dceo for updates on future rounds
This fund offers low-interest loans of up to $50,000 to small businesses that are located outside of the city of Chicago, have fewer than 50 workers, and had less than $3 million in revenue in 2019. Businesses approved for these loans owe nothing for six months and then begin making fixed payments at a below-market interest rate for the remainder of a five-year loan term. Learn more about the program here.
Applications are not currently being accepted.
SUBSCRIBE to receive updates about funding opportunities
The state Treasurer has partnered with approved financial institutions to provide loans—either lower rate loans or loans to a business or non-profit that would not otherwise qualify—to Illinois small businesses impacted by the COVID-19 pandemic. Get info and apply:
Small businesses, private nonprofits, or those who are self-employed and facing financial hardships related to the coronavirus pandemic can get help during this difficult time. Options include the Paycheck Protection Program (PPP), Economic Injury Disaster Loans (EIDL), SBA Express Bridge Loans, and SBA Debt Relief. Get more info/apply:
This YouTube video series covers a range of topics to help Lake County businesses get back to work during the Restore Illinois phased plan. Sessions presented by regional and state leaders are:
Diving into Phase 3 & Beyond
Creating New Business Models in a Pandemic
Human Resources, a Pandemic, and Embracing New Models for Work
Your Village Is Making It Easier to Get Back to Business
Financial Support & Funding Opportunities
View the webinars on YouTube.