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The original item was published from 4/2/2020 3:05:43 PM to 4/3/2020 10:31:12 AM.

News Flash

Eco Dev Home Newsflash

Posted on: March 23, 2020

[ARCHIVED] Resources For Businesses


Federal Assistance

  • Paycheck Protection Program
    • The U.S. Small Business Administration (SBA) will provide $349 billion in loans through the Paycheck Protection Program to small businesses and non-profits. Portions of these loans will be forgiven to the extent that recipients maintain their existing workforce or rehire. Loans can be up to $10 million and interest rates are maxed at 4% for portions of the loan that do not qualify for loan forgiveness. Learn more here. Coronavirus Aid Relief and Economic Security (CARES) Act.  Click here for more information
  •  U.S. Small Business Administration (SBA) Economic Injury Disaster Loan Program 
    • Small businesses and private non-profits can apply for loans up to $2 million.
    • Program offers working capital for payroll, accounts payable, and fixed debt payments
    • Interest rates are 3.75% for small businesses and 2.75% for non-profits.
    • Apply as soon as possible, as there are thousands of businesses that are applying for loans across the state. The process takes about 30 days.
    • Click here for more information
  • Additional SBA Resources
    • Information for small businesses affected by coronavirus is available here.
    • Follow @SBA_Illinois on Twitter.
    • You can also email or call (312) 353-4528 (Chicago office) or 217-(217) 747-8249 (Springfield office) to talk to a Small Business Administration team member directly.

State of Illinois Assistance

  • Hospitality Emergency Grant Program
  • Tax Delay
  • Illinois Small Business Emergency Loan Fund
    • Small businesses low-interest loans of up to $50,000.
    • Businesses outside Chicago with less than 50 workers and $3 million in 2019 revenue.
    • 5-year term; payments deferred 6 months; below-market interest rates.
    •  Click here for more information

Cook County Assistance

  • Cook County COVID-19 Taxes, Fines and Fees Relief Package
    • Due dates for Home Rule Taxes like the Alcoholic Beverage Tax, Amusement Tax, Tobacco Tax, and Gasoline and Hotel Accommodations Tax will be pushed back.
    • So will numerous fines and fees under the jurisdictions of the Departments of Transportation and Highways, Environment and Sustainability, Revenue, Building and Zoning, and Public Health.
    • Click here for more information


Village Programs

  • Restaurants May Display An A-Frame Sign:
    Restaurants who remaining open for curbside service during the closure order, may temporarily display an A-frame sign in an effort to make the public aware you are providing this essential service.  Temporary A-frame signs will not require a permit but will be subject to the following requirements. If you have any questions regarding these requirements, please contact Linnea O’Neill at (847) 784-3555. 
    • Only one (1) sign is permitted per business.
    • Sign is limited to 3.5 feet in height and 2 feet in width.
    • Sign must be stored indoors when business is closed. 
    • No illumination is allowed.
    • Placement of sign must maintain a four (4) foot wide passage on any sidewalk.
    • Sign shall not create unsafe conditions for pedestrians or vehicles using the public right-of-way.
    • Sign cannot interfere with sight visibility lines for safe vehicle and pedestrian traffic.
    • Sign must not be used outdoors when high winds or heavy snow conditions exist.
    • Sign may only be displayed until such time as the State of Illinois has lifted its restaurant closure order.

Emergency Resources for Workers

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