Find information and resources for those affected by COVID-19 below. Click on the link to be redirected to more resources or browse through the whole page below.
Federal Information and Guidance
Federal Financial Aid Opportunities – Loans and Grants
The Express Bridge loan program allows SBA Express lenders to provide expedited financing to small businesses located in declared disaster areas. Express Bridge loans are intended to be interim loans. Businesses use these funds for disaster-related purposes while they apply for and await long-term financing.
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, the SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid. You must apply for an SBA Disaster Assistance Loan prior to applying for this grant.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020.
SBA Debt Relief Program
The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis. The SBA will 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.
The program provides grants to you are a bartender, barback, bar server, or are otherwise engaged in the service or preparation of alcoholic beverages, you are eligible. Servers may apply if their place of work holds a full liquor license and they serve alcoholic beverages as part of their job.
Through the Restaurant Employee Relief Fund, we will provide grants to restaurant industry employees who have been adversely impacted by COVID-19, financially, whether through a decrease in wages or loss of employment.
The PBA COVID-19 Relief Fund will provide $500 to licensed beauty professionals who are unable to work due to COVID-19. The funding, if awarded to you, is intended to be emergency aid for short-term immediate needs such as food and bills.
State of IL Contacts
State of IL Information and Guidance
IL Executive Order #2020-7 (No dine-in at restaurants and bars)
IL Executive Order #2020-10 (Stay at home order)
The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts, and corporations. This relief is automatic, taxpayers do not need to file any additional forms or call IDOR to to qualify.
State of IL Financial Aid Opportunities – Loans and Grants
Unemployment benefits may be available to some individuals whose unemployment is attributable to COVID-19. IDES recently adopted emergency rules to try to make the unemployment insurance system as responsive to the current situation as possible.
The CARES Act creates a temporary Pandemic Unemployment Assistance program. Expands coverage to more workers, including self-employed, contractors, and furloughed workers. Increases by $600/week Americans’ unemployment benefits for the next 4 months. Makes available 13 additional weeks of unemployment for those who need it. Waives the normal one-week waiting period. Includes funding to offset 50% of the costs of state and local government and non-profits for cost of paying unemployment to their workers. Supports short-time, work share programs as an alternative to layoffs.
Grant funds are available to support working capital like payroll and rent, as well as job training, retraining, and technology to support shifts in operations, like increased pick-up and delivery. Bars and restaurants that generated between $500K and $1M in revenue in 2019 are eligible for up to $25,000, and bars and restaurants that generated less than $500K in revenue in 2019 are eligible for up to $10,000. Hotels that generated less than $8M in revenue in 2019 are eligible for 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 for loans of up to $50,000. Successful applicants will pay 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.
Loan funds must be used for working capital, and at least 50% of loans proceeds must be applied toward payroll or other eligible compensation including salaries, wages, tips, paid leave, and group healthcare benefits. Eligible uses will exclude compensation in excess of $100,000.
The Downstate Small Business Stabilization component has been established to provide working capital funds to community’s businesses economically impacted by the COVID-19 virus.
The program component makes funds available for 60 days of verifiable working capital up to a grant ceiling of $25,000 and is available for businesses that employ 50 people or less. Number of employees includes the business owner(s). These funds may be used to assist private for-profit small retail and service businesses, or businesses considered non-essential by the Governor’s Executive Order without the ability for employees to work remotely.
Under this program, the State Treasurer has made up to $250 million in deposits available to financial institutions throughout the state to assist Illinois small business and non-profits negatively affected by the COVID-19 pandemic. The purpose of this funding is to provide vital economic support to small businesses and non-profits throughout Illinois to help overcome the loss of revenue they are experiencing.
Through this program, 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.
Henry County Contacts
Henry County Information & Guidance
Henry & Stark County Health Department News Release: Henry Co First Positive Covid-19 Test – 27March2020
Henry and Stark County Health Department News Release: Update on 2nd Positive Covid-19 Test – 27March2020
Memo from the Henry County Office of Emergency Management regarding closing of Henry County Courthouse to the Public – 18March2020
Henry County Financial Aid Opportunities – Loans and Grants
The Rural Revolving Loan Fund (RRLF) uses capital provided by the Economic Development Administration and Henry County, for low-interest loans to help qualified businesses locate, expand or remain in Henry County. These loans are supplemental, providing a portion of the total needed for a given project. The balance must be obtained through conventional sources, i.e. bank financing or equity. RRLF loans may be used in conjunction with other financing programs, such as SBA 504 loans, State of Illinois economic development loans and assistance from private development groups.
The RRLF was established to create and retain jobs within Henry County. Thus, a condition of this financing is that a minimum of one job must be created or retained for every $10,000 of RRLF funds borrowed.