Illinois businesses impacted by civil unrest eligible for $2M loans

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Workers repair smashed windows at a building south of downtown on Friday, May 29, 2020, in Columbus, Ohio. Multiple downtown storefronts had their windows smashed and some businesses were looted early Friday. The damage happened as protesters angry over the death of George Floyd in Minneapolis police custody turned out for a demonstration in Columbus that began peacefully but turned violent, with windows smashed at the Ohio Statehouse and storefronts along surrounding downtown streets. (AP Photo/Andrew Welsh-Huggins)

SPRINGFIELD, Ill. (WTVO) — The U.S. Small Business Administration has approved financial assistance to help businesses and non-profits who were damaged or lost business due to the riots that took place in Illinois following George Floyd’s death.

Qualifying businesses, who suffered losses between May 26th and July 30th, are eligible for up to $2 million in emergency loans for operational costs, PPE, payroll and more.

These Economic Injury Disaster Loans from the SBA are available for qualifying businesses in the following counties: Adams, Boone, Champaign, DuPage, Kane, Knox, LaSalle, Macon, McLean, Morgan, Peoria, Sangamon, St. Clair, Stephenson, Tazewell, Will and Winnebago. 

Businesses in the contiguous counties of Brown, Bureau, Carroll, Cass, Christian, Clinton, Cook, DeWitt, DeKalb, Douglas, Edgar, Ford, Fulton, Greene, Grundy, Handcock, Henry, Jo Davies, Kankakee, Kendall, Lee, Livingston, Logan, Macoupin, Madison, Marshall, Mason, McHenry, Menard, Mercer, Monroe, Montgomery, Moultrie, Ogle, Piatt, Pike, Putnam, Randolph, Schuyler, Scott, Shelby, Stark, Vermilion, Warren, Washington, and Woodford may also apply for the Economic Injury Disaster Loans.

“2020 has been a tumultuous year for so many communities, and the Illinois Emergency Management Agency is committed to exploring all options to expedite the recovery process for homeowners, business owners and non-profit organizations,” said Illinois Emergency Management Agency Director Alicia Tate-Nadeau.

Businesses and private non-profits can borrow up to $2 million.  A loan amount is based on the actual economic injury of the business and its financial needs, regardless of whether the business suffered any property damage. 

Illinois businesses suffered more than $32 million in losses due to rioting across the state.

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