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The lobby of City Hall will be closed to the public until further notice. If you have any questions below are the following office numbers: Collector’s Office – 217-932-2600, Clerk’s Office – 217-932-2700, Police Department – 217-932-2800. Our hours of operation will continue to be Monday-Friday 8:00 a.m. – 3:00 p.m.

 

 

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COVID-19 Business Assistance

Post Date:03/31/2020 9:19 AM

PLEASE MONITOR THE DCEO COVID-19 UPDATE SECTION FOR THE MOST UP-TO-DATE INFORMATION

https://www2.illinois.gov/dceo/Pages/default.aspx

 

DOWNSTATE SMALL BUSINESS STABILIZATION PROGRAM INFORMATION: 

  • $20 million total program for working capital grants (800 grants available) 
  • Offers $25k grants to employers up to 50 employees
  • Funds available in collaboration with local governments that do not receive direct CDBG allocations
  • Large urban communities are not eligible for this program.  These communities will likely receive increased direct federal funding.
  • More at: https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/EmergencySBAIntiatives.aspx

 

PRE APPLICATION - this will give the Economic Development office all the necessary information to complete the grant application. 

GUIDEBOOK - the complete application. 

 

OTHER LOANS & ASSISTANCE AVAILABLE:

PAYCHECK PROTECTION PROGRAM

  • Creates forgivable SBA loans administered through local banks
  • Helps small businesses, non-profits, independent contractors, and self-employed
  • Limited to under 500 employees
  • Maximum loan of $10 million
  • Business must good-faith certify that funds are needed for COVID-19 related purposes and funds will be used to retain workers
  • Eligible expenses include payroll (including for tipped workers), insurance, rent, mortgage, and utilities
  • Amount spent by borrower in the first 8 weeks from loan origination may be forgiven; amount reduced proportionate to reductions in workforce as compared to previous year; if rehires made during 8 week period, no penalty in reflection of possible layoffs early in the 8 week period
  • Anything not forgiven or repaid by 12/31/20 will convert to a max 10 year loan at a max 4% interest rate; loan will remain 100% guaranteed
  • More information will be made available upon passage of the $2 trillion federal stimulus and coronavirus relief package

GRANTS

Illinois Hospitality Emergency Grant Program - Deadline is APRIL 1st 

LOANS

Illinois Small Business Emergency Loan Fund

 

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