WASHINGTON, D.C. – U.S. Senator and member of the U.S. Senate Committee on Small Business & Entrepreneurship Tammy Duckworth (D-IL) as well as U.S. Senator Dick Durbin (D-IL) today informed Illinois small businesses affected by the COVID-19 pandemic that they may now be eligible for low-interest federal loans of up to $2 million under the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan program. Today’s announcement comes after the Senators called on SBA Administrator Jovita Carranza to make these loans available to the state’s small businesses following Governor J.B. Pritzker’s Certification requesting statewide access to small business Economic Injury Disaster Loans.
“The COVID-19 pandemic’s economic impact on small business in Illinois cannot be overstated, and these federal emergency loans may be able to help employers in every corner of our state stay afloat,” Duckworth said. “As we continue our work in Washington to protect Americans, put workers and small businesses first and improve our nation’s response, I encourage any small business that is struggling as a result of this public health crisis to consider applying for this newly-available, low-interest federal loan program.”
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“I would encourage small businesses in Illinois who are struggling during this coronavirus pandemic to apply for these low-interest emergency loans. These loans can help employers stay above water as we continue to address the serious economic consequences of this outbreak. Small business owners are part of the backbone of Illinois’ local economies and we must support them during this unprecedented crisis,” said Durbin.
Impacted small businesses in Illinois should visit https://disasterloan.sba.gov/ela/ for more information about how to apply for Economic Injury Disaster Loans.
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