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Pritzker Applies for SBA Disaster Assistance Program
Following his issuance of a disaster proclamation, Illinois Gov. JB Pritzker said Tuesday his administration would file for statewide eligibility in a federal loan program for small businesses facing financial hardship.
“My Department of Commerce and Economic Opportunity [DCEO] has secured the necessary documentation to declare a statewide Economic Injury Declaration with the U.S. Small Business Administration,” said Pritzker. “The SBA is offering coronavirus disaster assistance loans to help impacted companies get through this period of instability, and this will ensure that all of our counties qualify for assistance.”
The low-interest loans offer up to $2 million in assistance per eligible small business or non-profit organization that applies. These loans can be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid due to the impact of the COVID-19 pandemic.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
