PPP Loans Through the Small Business Administration

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The SBA has opened up much-needed relief for businesses that everyone should be aware of. Many businesses under 300 employees will be able to apply for a “Second Draw” PPP loan from participating lenders. This opportunity closes on March 31st.

Businesses can learn more about PPP at www.sba.gov

Arts venues and museums can apply for a federal Shuttered Venue Operators Grant. The SBA has not yet opened up applications, but you can learn more at www.sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant.

To help your constituents understand these new programs, DCEO has a plethora of webinars being offered by our Office of Regional Economic Development (RED), our Office of Minority Economic Empowerment (OMEE), and our partners at the Small Business Development Center (SBDC).

You can find a webinar listed for nearly every day at www2.illinois.gov/dceo/SmallBizAssistance/BeginHere/Pages/BusinessInformationCenter.aspx.

In addition to COVID-19 resources, topics include government contracting, businesses management, and exporting. Please don’t hesitate to forward this information to constituents and community leaders.