COVID-19 Programs

Beginning May 11, the federal government will allow self-employed workers, freelancers, and independent contractors to apply for Pandemic Unemployment Assistance (PUA). This program provides a total of 39 weeks of federally funded unemployment benefits to individuals not typically eligible for unemployment benefits, including independent contractors and self-proprietors, who have become unemployed as a direct result of COVID-19.

View more information. Click here to file a claim online.

Update: Paycheck Protection Program – Additional funding for Paycheck Protection Program has recently been approved. If you have not already been approved talk to your bank today. If you’re bank is not participating, contact Josh Collins at jcollins@ThriveInSPI.org for assistance.

The Paycheck Protection Program is designed to provide a direct incentive for small businesses to keep their workers on payroll by providing each small business a loan up to $10 million for payroll and certain other expenses. It is administered through the Small Business Administration via the banking industry so businesses need to work with their current bank. Small businesses and sole proprietors could apply starting Friday, April 3. Independent contractor or self-employed individuals are able to apply starting April 10.

If all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest, or utilities. Up to 100 percent of the loan is forgivable. Contact your bank for more information since the program is being run through the banking system. If you’re bank is not participating, contact Josh Collins at jcollins@ThriveInSPI.org for assistance.

View more information.

At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. For agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, SBA will process these applications without the need for re-applying.

Eligible agricultural businesses may apply for the Loan Advance here.

The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.

Under this program:

• The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
• The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

Contact your bank for more information.

The SBA Express Bridge Loan allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

Terms

• Up to $25,000
• Fast turnaround
• Will be repaid in full or in part by proceeds from the Economic Injury Disaster Loans

The Treasurer's Office partners with approved financial institutions to provide loans -- either lower rate loans, or loans to a business or non-profit that would not otherwise qualify -- to Illinois small businesses impacted by the COVID-19 pandemic.

View more information.

DCEO and the Illinois Department of Financial and Professional Regulation (IDFPR) are establishing the Illinois Small Business Emergency Loan Fund to offer small businesses low interest loans of up to $50,000.

Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 will be eligible to apply. Successful applicants will owe nothing for six months and will then begin making fixed payments at a below market interest rate for the remainder of a five-year loan term.

View more information.

Grant program for small businesses and enterprises impacted by COVID-19 across the country, especially those in underserved communities, including entrepreneurs of color, women- and veteran-owned businesses that often lack access to flexible, affordable capital. Applications will be reviewed based on criteria designed to prioritize particularly challenged businesses, and the final grantees will be randomly selected from the top scoring applicants. Learn more and apply.

• Personal Protection Equipment for Businesses & Individuals
• Resource Guide: Reopening Your Business

A new website, donated by a local Springfield business, will consolidate business information across Sangamon County to keep consumers apprised of the status of their favorite local businesses and their services in one, easily searchable place.

The website is SpringfieldZoom.com. Any Sangamon County business or organization can simply click on “Register My Business” to get started.

It takes less than three minutes for a business to create a free account. Plus they can update their status as the situation changes.

For the public, they can easily search for their favorite businesses to find out their status and whether they can purchase gift certificates, get take-out, etc.

This one-stop website was built and is being donated by Springfield businesses GoWeb1 and AlertsMadeEasy.com, who built it in two days. They are donating this effort for the entire business community in Sangamon County as a free tool to help businesses and organizations quickly communicate their operational status to the public.