The COVID-19 outbreak and resulting Stay At Home orders across the country have and continue to threaten the prosperity of many businesses directly impacted, as well as small and mid-size businesses that cannot afford multiple weeks or months of no incoming revenue. With the funds for the Paycheck Protection (PPP) and the Economic Injury Disaster Loans (EIDL) exhausted, it is imperative particularly for businesses who did not receive PPP funds to explore what other relief options are available in light of the COVID-19 pandemic. Here we outline the basics of some additional relief options for Illinois and Chicago businesses to consider.
In our Beyond PPP article, we outline the basics for the following loan options:
- Illinois Small Business Emergency Loan Fund
- Chicago Small Business Resiliency Fund
- Cook County Community Recovery Fund
- Main Street Lending Program
- Express Bridge Loans
- Facebook Small Business Grants Program
If you have questions about the loan programs outlined here or need assistance with a COVID-19 tax or business planning issue, Selden Fox can help. For additional information call us at 630.954.1400 or click here to contact us. We look forward to speaking with you soon.