Small business support programs, grants, and loans

  • Here are a few of the emerging programs, grants, and loans to help support small businesses through the COVID-19 crisis:
    Small Business Majority: List of IL based resources - IL Dept of Public Health, IL Dept Commerce and Economic Opportunity, Chicago Dept of Business Affairs and Consumer Protection, and IL Dept of Revenue

    Chicago Small Business Resiliency Fund: The City of Chicago has established the $100 million Chicago Small Business Resiliency Fund, which will provide small businesses and non-profits with emergency cash flow during this health crisis. Funds will be provided to eligible businesses as low-interest loans.

    University of Chicago South Side COVID-19 Small Business and Nonprofit Emergency Fund: Deadline: April 06 2020 at 11:59 PM CDT The University of Chicago Office of Civic Engagement (OCE), through its UChicago Local initiative will provide one-time bridge grants to support small local businesses experiencing economic impact due to the COVID-19 pandemic. These bridge grants are intended to support local small businesses as public and private assistance comes online. Grant funds are limited and will be awarded in amounts up to $7,500 based on size of organizational budget and impact of COVID-19 on business operations.

    Chicago Community COVID-19 Response Fund: City of Chicago, The Chicago Community Trust and United Way of Metro Chicago launched the Chicago Community COVID-19 Response Fund to unite the funds raised by Chicago’s philanthropies, corporations and individuals to be disbursed to nonprofit organizations across the region. To show interest in applying for the fund fill out this Google form.

  • The Local Initiatives Support Corporation (LISC) has a new grant program for small businesses. LISC will provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital.

  • Facebook Small Business Grants Program: Facebook is offering up to $100 million for 30,000 small businesses. To be eligible, you must be a for-profit company, have 2-50 employees, have been in businesses for over a year and have experienced challenges from COVID-19. (This grant opens 4/22)

  • CHICAGOLAND COVID-19 COMMUNITY DEVELOPMENT RESOURCE GUIDE: Click here for a guide that helps navigate the myriad of grants, loans and other resources available from public and private sources. Resources are updated and added regularly. Click the image to view the guide.

  • Disaster Loan Application: SBA is collecting the requested information in order to make a loan under SBA’s Economic Injury Disaster Loan Program to the qualified entities listed in this application that are impacted by the Coronavirus (COVID-19).

  • SBA Small Business Guidance and Loan Resources: Click here for more information on Coronavirus funding options, guidance for businesses and employers, and other relief efforts for small businesses.

  • ROC's COVID-19 Resources: Click here for national, state, and local financial assistance opportunities for restaurant workers and small businesses during the COVID-19 pandemic.

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