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.
- Republicans: IL Democrats’ proposed congressional maps ‘a complete joke’
- Will ‘Media Literacy’ classes help protect Illinois school children?
- Medicare open enrollment begins for Americans
- Rockford man charged with killing Madison man over dice game loss
- Stellantis offers Belvidere Assembly Plant employees option to relocate, quit, or be fired