In the Governors Daily Press Conference the following important announcements were made:
Illinois will delay the Income tax filing and payment deadline from April 15 to July 15 giving millions of taxpayers 3 additional months to file individual returns.
Emergency Small Business Grants and Loans Assistance Programs
Under the leadership of Governor JB Pritzker, Department of Commerce CEO is working with partners to launch emergency assistance programs for Illinois small businesses. These initiatives include:
Hospitality Emergency Grant Program -
To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, DCEO is launching the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes.
Illinois Small Business Emergency Loan Fund -
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.
Starting this Friday, March 27th, interested businesses will be able to express interest on the DCEO website.
VIEW DETAILS HERE
