Emergency Loan Fund and the Hospitality Emergency Grant Program, were created to address specific challenges to small businesses and the hospitality industry.
“Small and local businesses across the state have been adapting to the safety precautions being taken to prevent the spread of COVID-19,” said Bristow. “Our state and federal government have been working to provide them the resources and funds needed to support their essential operations and make this challenging time manageable.”
After March 27, Illinois small businesses in Madison County will be eligible for a share of the $90 million in state emergency assistance through two new programs:
● Illinois Small Business Emergency Loan Fund, for small businesses with fewer employees and under $3 million in 2019 revenue. Loans up to $50,000 with five years of low interest will be available for business owners, with payments not starting for six months.
● Hospitality Emergency Grant Program, which is aimed to address the challenges of bars, restaurants, and hotels. This program will offer $14 million to help support payroll, rent, as well as training for technology for pickup and delivery options, which has become essential to restaurants staying open.
“Our small businesses are the foundation for our local economies, and it is essential that we support them during this unprecedented challenge,” said Bristow. “With all of our efforts to prevent the spread of this virus, it’s essential that we continue to support those that are most affected by the outbreak.”
If businesses or residents have questions or need assistance applying for programs, please contact Bristow at RepMBristow@gmail.com, Facebook.com/RepMBristow, or at 618-465-5900. While Bristow’s office remains closed to help protect the community’s health, messages are checked frequently but residents are encouraged to reach out by phone or direct message on social media.
To find the most recent information about resources and information regarding COVID-19 in Illinois, visit https://coronavirus.illinois.gov or call the Illinois Department of Public Health at 1-800-889-3931.