UPDATE: The State of Illinois has received a federal disaster designation, allowing Illinois businesses affected by the coronavirus crisis to apply for low-interest loans from the US Small Business Administration. SBA’s “Economic Injury Disaster Loans” offers up to $2 million in assistance.
The Illinois SBA is hosting a webinar that covers eligibility requirements, use of proceeds, terms, and filing requirements. Pick one of these times that fits your schedule and register. More options may be added later:
- March 24, 9 AM: Economic Injury Disaster Loans, SBA
- March 25, 9 AM: Economic Injury Disaster Loans, SBA
- March 25, 1 PM: Economic Injury Disaster Loans, SBA
- March 26, 9 AM: Economic Injury Disaster Loans, SBA
- March 26, 1 PM: Economic Injury Disaster Loans, SBA
- March 27, 9 AM: Economic Injury Disaster Loans, SBA
- March 27, 1 PM: Economic Injury Disaster Loans, SBA
Your local Illinois SBDC will be providing technical assistance. Find your local Illinois SBDC and scroll down to the link where you’ll enter your zip code.
Pam Schallhorn is a University of Illinois Extension Specialist in Community and Economic Development specializing in small business development and entrepreneurship. Previously, she was a Vice President of Commercial Lending for several banks and served as the Director of the Small Business Development Center in Rockford. She holds a bachelor’s in finance and a master’s in political studies. Her office is in Springfield. Email Pam.