DHJJ is awaiting further guidance on these loans, including the application process. In most cases, the Paycheck Protection Program is beneficial to businesses, but there are other options depending on your company's situation. Please contact your DHJJ CPA.
SBA 7(a) Loans Under the CARES Act – Paycheck Protection Program (PPP) The purpose is to incentivize small businesses to maintain their workforce and rehire workers who were laid-off due to COVID-19 interruptions.
SBA 7(b) Loans – Changes Under the CARES Act
These loans include the Economic Injury Disaster Loan Program, which was first introduced with the Families First Coronavirus Act.
Economic Injury Disaster Loan Program
SBA Express Bridge Loans
Loan Programs – State of Illinois Highlights
There are two programs, one specifically for the hospitality industry.
Illinois Hospitality Emergency Grant Program-MUST APPLY BY APRIL 1
Illinois Small Business Emergency Loan
Read more details on our website by clicking the link below. Also, please contact your DHJJ CPA with questions. We are awaiting more information on some of the loans. We will update our COVID-19 Resources page when we know more on the application process.