COVID-19 small business loans
Payroll Tax Credits
SBA and U.S. Chamber conference call
Treasurer Frerich's Business Invest
The Illinois Small Business COVID-19 Relief Program is an impact investment loan program to provide vital economic support to small businesses and non-profits throughout Illinois to help overcome the loss of revenue they are experiencing.
Treasurer Frerichs's office will make $250 million in deposits available to financial institutions throughout the state, at near-zero rates, to assist Illinois small business and non-profits negatively affected by the COVID-19 pandemic.
The Treasurer's Office is partnering with approved financial institutions to provide lower rate loans, or loans to a business or non-profit that would not otherwise qualify, to small businesses impacted by the COVID-19 pandemic.
State funds will be deposited with qualified financial institutions for a 1-year term at a near-zero deposit rate of 0.01 percent. Deposits can be drawn in $1 or $5 million increments, up to a maximum of $25 million per financial institution.
To participate in the program, financial institutions must be or apply to become an approved program depository with the Illinois Treasurer's Office.
Visit the Community Development Linked Deposit page to view the applicable impact investment deposit rates.
For more information on COVID-19 in Illinois please see the Illinois Coronavirus Response website.
For more information on COVID-19 business updates please see the U.S. Chamber of Commerce Combating the Coronavirus website.