U.S. Small Business Administration (SBA) UPDATE

Disaster Assistance Program

The SBA has received authorization to provide small businesses, within designated states and territories, assistance through the Economic Injury Disaster Loan (EIDL) program. This program can provide working capital loans of up to $2 million that can provide vital economic support to help overcome the temporary loss of revenue they are experiencing. This [document] discusses the Economic Injury Disaster Loan (EIDL) program and provides high-level information related to the loan caps, use of proceeds, and interest rates. It’s important to recognize that the state of Illinois has not yet received a declaration, so the EIDL program is not yet available to Illinois businesses and non-profits. Issuance of this program will occur upon request from the state’s Governor.

How you can help:

  • Help the State Identify Affected Businesses – You can directly help the disaster declaration process through your assistance in identifying affected businesses. The state of Illinois has created a portal to assist with this at: https://form.jotform.com/200717156003039. Please forward information to local economic development groups and/or other small businesses to help aggregate this critical information.
  • Direct Impacted Small Businesses to SBA – Even in the absence of a declaration, SBA has a broad range of programs that can help small businesses through these challenging times, including business advisory and lending services. Call or email the Illinois District Office or go to www.sba.gov/il for more information. Local staff stand ready to assist.
  • Stay Informed – The Illinois District will publish updates as the situation evolves. The SBA plans to share information via webinars, through our twitter (@SBA_Illinois), and via email (www.sba.gov/updates). In addition, you can find continually updated information on this situation at www.sba.gov/coronavirus.

For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.

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