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Beat the Deadline: Apply for COVID-19 aid for cash flow and debt payments

  • Lakeview Roscoe Village Chamber of Commerce 1409 W Addison St Chicago USA (map)

Presented by Small Business Majority

Illinois small businesses impacted by low sales or increased business debts due to the COVID-19 pandemic have limited time by December 31 to apply for the value-based loan through U.S. Small Business Administration's (SBA) COVID-19 Economic Injury Disaster Loan (EIDL) program.

The COVID-19 EIDL program has a low 3.75% fixed interest rate and a 30-year repayment term that’s available for owners with a minimum 570 credit score. Join Small Business Majority and the SBA Illinois District Office for this important biweekly webinar to learn about how you can access federal funding opportunities.

Topics include:

  • COVID-19 EIDL is a value-based loan to benefit small business owners use for payroll, working capital, and payment of a commercial or federal debt, and payment of other costly expenses.

  • The competitive advantage of completing the COVID-19 EIDL application well in advance of the December 31 deadline

  • The federal Employee Retention Credit (ERC)

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Reset and Recovery Part 3: Succession Planning for the Small Business Owner: Navigating the Exit