Printed on March 27 2020 9:54 am
Final Up to date on March 27 2020 9:55 am
State Rep. Blaine Wilhour (R-Beecher Metropolis) says that the Illinois State Treasurer is making as much as $250 million accessible for low-interest loans for small companies and non-profits impacted by the coronavirus emergency.
“I do know many companies are discovering methods to remain open and serve meals or present merchandise which might be wanted throughout this disaster,” mentioned Rep. Wilhour. “However for individuals who discover themselves compelled to close their doorways due to the ‘Keep at House’ government order by the Governor, these low-interest loans stands out as the reply for brief time period assist they want.”
The state treasurer’s workplace introduced it would make as much as $250 million accessible to Illinois banks and credit score unions that want to take part in an impression funding mortgage program. The accepted monetary establishments will decide which small companies and non-profits are eligible for the loans to assist get them by means of the COVID-19 emergency.
For extra in regards to the Illinois Small Enterprise COVID-19 Aid Program click on HERE.
The aim of this program is to supply very important financial assist to small companies and non-profits to assist overcome the lack of income they’re experiencing. By this program, the Treasurer’s Workplace would accomplice with accepted monetary establishments to present loans — both decrease price loans, or loans to a enterprise or non-profit that might not in any other case qualify — to Illinois small companies impacted by the COVID-19 pandemic.