Illinois State House District 89 issued the following announcement on April 7.
State Representative Andrew Chesney is encouraging small business owners to apply for an Economic Injury Disaster Loan advance from the U.S. Small Business Administration 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 following a successful application. This loan advance will not have to be repaid.
“Some of these grant and loan programs require a lot of paperwork, but I especially want to highlight the Economic Injury Disaster Loan program, as the application process is very easy to complete,” said Representative Chesney.
The SBA’s Economic Injury Disaster Loan provides vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic. This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.
The Economic Injury Disaster Loan advance funds will be made available within days of a successful application, and this loan advance will not have to be repaid. To apply for a COVID-19 Economic Injury Disaster Loan and loan advance, visit covid19relief.sba.gov
Rep. Chesney went on to encourage interested individuals to learn about other programs through the SBA, other federal agencies, state and local agencies at his COVID-19 Resources website here.
Original source can be found here.
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