SCHAUMBURG, Ill. – As many businesses face continued temporary closure with the governor’s extension of the stay-at-home order through April 30, state Rep. Michelle Mussman, D-Schaumburg, is highlighting assistance available to small businesses feeling negative impacts from the Coronavirus Disease 2019 (COVID-19) pandemic.
“It is up to each of us to do our part to help save lives by following recommended precautions to prevent the spread of COVID-19, and that has required many businesses in our community to temporarily shut their doors,” said Mussman. “To help alleviate the burden, I am sharing information on resources available to our local small business owners during this time.”
To help combat the spread of COVID-19, Gov. JB. Pritzker recently extended the mandatory stay-at-home order until April 30, forcing many local businesses to close. Mussman is highlighting assistance available to small business owners during this time. Small businesses in need of financial assistance due to the coronavirus outbreak may apply for low-interest emergency assistance loans with the Illinois Department of Commerce and Economic Opportunity (DCEO) at www.Illinois.Gov/DCEO. Additionally, the Small Business Administration (SBA) is providing low-interest, long-term loans to assist small businesses facing hardship during the pandemic. These loans can be up to $2 million for as long as 30 years, with rates at 3.75% for small businesses and 2.75% for non-profits. More information and application forms can be found at https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources.
“This is a trying, scary time for all of us and it is causing hardship for many families,” continued Mussman. “Small businesses are vital to our local economy, so when businesses are able to reopen it will be very important to support them by shopping locally.”
Mussman represents the 56th District, which contains portions of Schaumburg, Hoffman Estates, Elk Grove Village, Hanover Park, Roselle, Rolling Meadows and Palatine.