Pritzker to File for Statewide
Eligibility for Small Business Administration Loans
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[May 09, 2020]
Chicago
— In another effort to provide economic assistance to Illinoisans
facing unprecedented challenges due to COVID-19, Governor JB
Pritzker announced that his administration will file for statewide
eligibility in a federal loan program for small businesses facing
financial hardship.
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“I have directed my administration to do
everything in our power to support our working families, and we are
also working expeditiously to mitigate the challenges small
businesses are facing,” said Governor JB Pritzker. “My Department of
Commerce and Economic Opportunity has secured the necessary
documentation to declare a statewide Economic Injury Declaration
with the U.S. Small Business Association. 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.”
“Many businesses are struggling due to the spread of COVID-19 across
the state, with small businesses feeling the impact sharply,” said
Erin Guthrie, Director of DCEO. “These loans from SBA are among the
many tools the administration is pursuing to provide relief for
businesses in the near and long term.”
![](http://archives.lincolndailynews.com/2020/Mar/18/images/ads/current/LPL_small%201.gif)
The Department of Commerce and Economic Opportunity has contacted
and received responses from over 1,000 businesses in every corner of
the state in order to file with the U.S. Small Business
Administration.
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. The interest rate for businesses without credit
available elsewhere is 3.75%, and the non-profit rate is 2.75%.
According to the Small Business Administration, loans are available
with long-term repayments to keep payments affordable, up to a
maximum of 30 years.
Once approved by the federal government, business owners and
non-profit leaders can apply for the loans here:
https://disasterloan.sba.gov/ela/
ADDITIONAL ECONOMIC ASSISTANCE
UNEMPLOYMENT INSURANCE:
Individuals without access to paid sick leave or unable to work due
to COVID-19 can apply for unemployment insurance under the
administration’s expansion. The governor’s executive order waives
the 7-day waiting period for residents to apply for unemployment
benefits, meaning anyone who qualifies can file and become
immediately eligible instead of experiencing a week-long lag during
this challenging time. Gov. Pritzker is working with the federal
delegation and congressional leadership to push the Trump
administration to allow the state to increase the length of benefits
beyond 26 weeks as this crisis continues to provide significant
fiscal challenges for Illinois families.
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![](http://archives.lincolndailynews.com/2020/Mar/18/images/ads/current/Library_lda_EDUCATION_2020.png) UTILITY RELIEF:
Gov. Pritzker and Attorney General Raoul have
urged the Illinois Commerce Commission to immediately institute a
moratorium on shutoffs for all utility companies across Illinois –
including energy, telecommunications and water – until the state
disaster proclamation has been lifted. The administration is also
requesting changes to payment and collection policies to ensure
Illinoisans aren’t saddled with utility debt as a result of
COVID-19. Several have announced plans to maintain services and
waive late payment fees. FOOD ACCESS:
The Pritzker administration is working directly
with the eight major food banks across Illinois to expand services.
The administration is reaching out to food manufacturers to ensure
food banks are prioritized and can provide our vulnerable residents
the food they need. ISBE obtained a waiver from the federal
government to continue distributing meals to all children who
qualify for free and reduced lunch. The Governor is also encouraging
schools to expand their meal distribution program to all children
under 18 or to any student enrolled in an Illinois school,
regardless of their age.
MEDICAID WAIVER:
The administration is in the process of filing a federal waiver to
expand Medicaid coverage, beginning work on the waiver application
as soon as the federal government declared a national emergency and
activated the Stafford Act. If the federal waiver is approved, the
state will be able to expand Medicaid services through the addition
of new medical providers, increased access across the state and
ramped up services to many of the state’s most vulnerable
populations.
ILLINOISANS: STAY HOME
Social distancing is the paramount strategy for minimizing the
spread of COVID-19 in our communities. The Governor continues to
make tough calls to keep Illinoisans safe, including mandating that
events of 50 people or more be canceled, suspending dine-in
operations of bars and restaurants and temporarily closing public
and private K-12 schools. Public health officials continue to urge
Illinoisans to stay home as much as possible.
Those experiencing symptoms should call a health care provider who
will help arrange medical treatment without putting others at risk
of exposure.
The Illinois Department of Public Health has a statewide COVID-19
hotline and website to answer any questions from the public or to
report a suspected case: call 1-800-889-3931 or visit
IDPH.illinois.gov.
[OFFICE OF THE GOVERNOR JB PRITZKER] |