State and Federal Assistance and Forms of Relief for Those Affected by the COVID-19 Novel Coronavirus
The Evans Williams Law Group would like to do all we can to help serve our community in this time of need. We’ve put together a list of assistance and relief offered federally, by the state of Illinois, and from other businesses. While not an exhaustive list, we hope this resource is helpful for those in need.
Emergency Childcare for Essential Workers
The Governor’s Office of Early Childhood Development is able to offer several resources for essential workers in need of childcare:
A helpline that connects essential worker families to emergency childcare. Call toll-free (888) 228-1146, Monday through Friday from 9 AM to 3 PM to reach a live person. You can leave a message 24 hours a day.
Search for providers online using the COVID-19 Emergency Provider Search tool.
Cook County residents can access a temporary text messaging service that will answer questions regarding the Child Care Assistance Program. Text (312) 736-7390, Monday through Friday from 8:30 AM to 5 PM. Priority will be given to essential workers, healthcare workers, and first responders.
To find out how to become an emergency childcare support provider or a volunteer to support emergency childcare, please visit the Governor’s Office of Early Childhood Development website. The site will also provide the latest updates on additional assistance, as well as other information and resources.
For links to important COVID-19 resources for providers, updates for Head Start/Early Head Start programs, resources for families with young children, and canceled early childhood events, visit COVID-19 for Early Childhood.
Assistance for Small Businesses
The Business Invest - Illinois Small Business COVID-19 Relief Program is an impact investment loan program under which the State Treasurer has made up to $250 million in deposits available to financial institutions throughout the state, at near-zero rates, to assist Illinois small business and non-profits negatively affected by the COVID-19 pandemic. Eligible Illinois businesses or non-profits must (1) have been shut down or limited due to COVID-19; (2) have less than $1 million in liquid assets or $8 million average annual receipts (per SBA standards); and (3) be headquartered in the State of Illinois or agree to use the funds in Illinois. Visit the Illinois State Treasurer’s website for details.
U.S. Small Business Administration Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period. Read a fact sheet provided by Illinois.gov for details.
Illinois Small Business Emergency Loan Fund - The Illinois Department of Commerce and Economic Opportunity (DCEO) and the Illinois Department of Financial and Professional Regulation (IDFPR) are establishing the Illinois Small Business Emergency Loan Fund to offer small businesses low interest loans of up to $50,000. Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 will be eligible to apply. Successful applicants will owe nothing for six months and will then begin making fixed payments at a below market interest rate for the remainder of a five-year loan term. Click here to learn more.
Chicago Small Business Resiliency Fund - The City of Chicago recognizes that COVID-19 has put a difficult burden on our business and non-profit community. As a response to this challenge, the City of Chicago has established the $100 million Chicago Small Business Resiliency Fund (the Resiliency Fund), which will provide small businesses and non-profits with emergency cash flow during this health crisis. Funds will be provided to eligible businesses as low-interest loans. For more information and to apply, visit www.chicagoresiliencyfund.com. See the press release here.
Downstate Small Business Stabilization Program - To support small businesses in downstate and rural counties across Illinois, DCEO is repurposing $20 million in CDBG funds to stand up the Downstate Small Business Stabilization Program. This Fund will offer small businesses of up to 50 employees the opportunity to partner with their local governments to obtain grants of up to $25,000 in working capital. These grants will be offered on a rolling basis. Communities can learn more about the Notice of Funding Opportunity (NOFO) and eligibility requirements here.
For the latest updates on small business assistance, visit the Illinois Department of Commerce & Economic Opportunity’s website.
Not sure if your business needs to close? See the Stay at Home Order & Essential Business Guidance Essential Business Flowchart.
Illinois Tax Deadline Extension
The filing deadline for Illinois income tax returns has been extended from April 15, 2020, to July 15, 2020.
See the Illinois Income Tax Filing and Payment Extension informational bulletin for details.
Visit Illinois.gov’s Taxpayer Resources website for the most up-to-date information on taxpayer relief and assistance.
For the latest updates and news, prevention, FAQs, and volunteer opportunities, visit the State of Illinois Coronavirus (COVID-19) Response page.
Assistance for Citizens
Economic impact payments (aka, CARES act or coronavirus stimulus checks)
Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible. Social Security recipients and railroad retirees who are otherwise not required to file a tax return are also eligible and will not be required to file a return.
Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child.
Visit the IRS’s website for more information.
The deadline to file and pay federal taxes has been extended to July 15th, 2020. Visit IRS.gov for more details.
Small Business Assistance
The U.S. Small Business Administration has various forms of assistance available for small businesses. Visit these pages for details, including information about their Paycheck Protection Program, Express Bridge Loans, and Debt Relief, as well as access to capital, exporting assistance, and government contracting:
Many other forms of federal relief are in the works. See this document on the proposed COVID-19 RELIEF for Small Businesses Act of 2020 for details.
Assistance from Other Businesses
Facebook has a grant program in the works. Visit their page for more details.
Verizon Small Business Recovery Fund - Thanks to a $2.5 million investment from Verizon, LISC is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available. Visit their website for more details.
The Women’s Business Enterprise National Council has additional resources on opportunities for businesses during the pandemic.
All information is subject to change. Please do your research to make sure you are accessing the most up-to-date information. We will not be updating this page.