Online training available for small businesses impacted by coronavirus
Offered by the U.S. Small Business Association

[May 11, 2020]  All Illinois small businesses can now apply for low-interest disaster loans to help offset the economic impact of the coronavirus pandemic.

The Illinois District Office will host free webinars as long as there is demand covering:

Eligibility
Use of proceeds
Terms
Filing requirements
Additional small business resources
Choose the date and time most convenient for you.

Click the link to register now.

Wednesday, March 25, 11 a.m. CT

Thursday, March 26, 11 a.m. CT

Thursday, March 26, 3 p.m. CT

More webinars will be announced soon! Watch your email for future events.

Information you'll need to collect for your loan application

The SBA's Economic Injury Disaster Loan program provides low-interest loans of up to $2 million to small businesses and private non-profits affected by the coronavirus pandemic.

These working capital loans can be used to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves. They have repayment options of up to 30 years.

Here are the documents you'll need to provide to complete the application:

• SBA Form 5 or SBA Form 5C for sole proprietorships - SBA loan application

• IRS Form 4506T - Tax Information Authorization for the applicant, principals and affiliates

• Complete copies of the most recent Federal Income Tax Return.

• SBA Form 2202 - Schedule of Liabilities

• SBA Form 413 - Personal Financial Statement

• SBA Form 1368 - Monthly sales figures

We recommend you apply online, but preparing these documents ahead of time will streamline the process for you.

[U.S. Small Business Association]