Coronavirus (COVID-19) Relief Center
Coronavirus (COVID-19) Relief Center
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Illinois
These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on August 24, 2020.
For more up-to-date information on the relief programs available in Illinois, we recommend that you visit the state's Coronavirus (COVID-19) Response portal.
Description of Program and Relief
Chicago, Illinois: Small Business Resiliency Fund
Description of Program and Relief
In response to COVID-19, the City of Chicago has established a $100 million Chicago Small Business Resiliency Fund to provide small businesses with emergency cash flow during this crisis. Funds will be provided to eligible businesses as low-interest loans that can be repaid over a term of up to five years.
Government or Lead Agency
City of Chicago
Dates Available
Applications are now available
Eligibility Requirements/Restrictions
To be eligible, a business must:
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Attest to a more than 25% revenue decrease due to COVID-19;
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Employ fewer than 50 employees and have gross revenues of less than $3 million in 2019;
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Provide a Chicago business address or Chicago business license;
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Not have any pre-existing tax liens or legal judgments against it.
Loans will be made in amounts up to $50,000, but will be sized based on pre-COVID-19 revenue.
Loan proceeds must be used for working capital. At least 50% of proceeds should be applied toward payroll, and the business must commit to retain its workforce at 50% of pre-COVID-19 levels.
Application Deadlines (If Applicable)
Applications will close on Friday April 24, 2020.
Contact for More Information
List of Additional Information
Please visit:
© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.