The Metropolis Chamber of Commerce is committed to assist our businesses during the Covid-19 Crisis.
SBA Information for COVID-19 Impacted Businesess
SBA Loans and Financial Assistance: If you are the owner of a small business or private non-profit and would like to apply to the U.S. Small Business Administration for an Economic Injury Disaster Loan, application documents are available at www.SBA.gov/disaster or you can find the individual links below.
- The loan process generally takes 3 to 4 weeks.
- The borrower should put the amount they are applying for on the application.
- The borrower must also note the application is being made because of the Coronavirus driven economic injury.
- They must have a physical location in the declared disaster area.
- Interest rate is 3.75% for small businesses and 2.75% for non-profits, up to a 30-year term.
- 1-year deferment of their first payment.
For a streamlined look at the process click here.
We would also encourage you to talk to your local banks to see if they have small business loans.
Below are links to the forms that should provide you more information about applying.
- SBA Resources for Business
- Request for Transcript of Tax Return Instruction
- Request for Transcript of Tax Returns
- Schedule of Liabilities
- Personal Financial Statement
- Monthly Sales Figures
- Fee Disclosure Form and Comp Agreement
- Loan Application Sole Proprietor
- Business Loan Application
Here are helpful resources for you:
For General Information about Covid-19 In Illinois click on the link below
Hospitality Emergency Grant Program
This new $14 million grant program aims to help small hospitality businesses make ends meet, providing up to $25,000 to eligible bars and restaurants and up to $50,000 for eligible hotels.
These grants are available to support working capital – like payroll and rent – job training and technology to support shifts in operations, like increased pick-up and delivery.
- Bars and restaurants that generated between $500,000 and $1 million in revenue in 2019 are eligible for up to $25,000, and bars and restaurants that generated less than $500,000 in revenue in 2019 are eligible for up to $10,000.
- Hotels that generated less than $8 million in revenue in 2019 are eligible for up to $50,000. The program re-purposes job training and tourism promotion funds to provide this emergency grant assistance.
Businesses will need to upload a copy of their Business License and most recent Tax Return
Applications are available and are due by April 1 at 5 p.m. All valid, eligible applications received within the five-day window will be entered into a lottery, and grant winners will be notified on April 4.
Click HERE to Apply
Gov. Pritzker has announced that the state is deferring sales tax payments for more than 24,000 small- and medium-sized bars and restaurants, and the administration has ensured small businesses from every county are eligible to apply for low-interest coronavirus disaster assistance loans of up to $2 million from the U.S. Small Business Administration.
Resources for Childcare Facilities and Providers
Beginning Saturday, March 21st at 5pm CST, licensed childcare centers and all childcare homes serving more than six children will be closed. The administration is working to expand the availability of childcare in small group sizes for essential workers through a newly available Emergency Child Care Center license. Interested providers can apply for an emergency license by completing the forms referenced below. All applications can be submitted to the Illinois Department of Childhood and Family Services (DCFS) at Emergency.Daycare@illinois.gov. Interested parties can submit the application immediately and will have up to five business days to develop and submit the required materials.