Village of Bradley

The Village Hall is located at:
147 S. Michigan, Bradley, IL 60915
815 936 5100
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  • COVID- 19 Assistance Grants and Loan Information

COVID- 19 Assistance Grants and Loan Information

 

Federal: Economic Injury Disaster Loan Assistance

Website: https://disasterloan.sba.gov/apply-for-disaster-loan/index.html

Program Details:

Small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for a long-term, low-interest loan due to Coronavirus (COVID-19).

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

Who is eligible?

  • Small businesses and small agricultural cooperatives, small aqua culture businesses and most private organizations

How do businesses apply?

How much money is available?

  • The maximum unsecured loan up to $25,000

How soon will businesses receive funds?

  • Case by case approval
  • If the businesses is in has relationship with SBA they can qualify for up $25,000 with less paperwork

* SBA Express Bridge Loan

 

State of Illinois: Illinois Small Business Emergency Loan Fund

Website: https://www.sba.gov/

Program Details:

Illinois Department of Commerce & 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.

Who is eligible?

  • 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.

How do businesses apply?

How much money is available?

  • Illinois Small Business Emergency Loan Fund to offer small businesses low interest loans of up to $50,000.

How soon will businesses receive funds?

  • “Eligible businesses will be invited to submit a full application beginning on April 1. Once submitted, we will strive to make a loan decision within 10 days, and make funds available within two days of receiving bank information from a business. “

 

State of IL: Downstate Small Business Stabilization Program

Website: https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/EmergencySBAIntiatives.aspx

Program Details:

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.

Who is eligible?

  • Local governments can apply on behalf of businesses with 50 employees or less. Only units of local government recognized by the Illinois Constitution and able to support economic development activities on a sufficient scale are eligible to apply for Economic Development grant funding.  This includes cities, villages, and counties.  Municipalities must not be a HUD direct Entitlement community or be located in an urban county that receives “entitlement” funds.  A map of eligible areas of the state can be accessed here, see “Staff Contact Information.”

What can grants be used for?

  • Grants can be used to support working capital.

How do businesses apply?

  • Businesses in the eligible areas should work with their local governments to submit applications.  Application materials will be posted to the DCEO website on Friday, March 27, 2020
  • Grants of up to $25,000 per business will be available.

How soon will businesses receive funds?

  • DCEO’s goal is to execute grants within 30 days of application receipt, after which funds will be accessible.

 

Various Additional Aid

State of IL: Tax Payer Relief Programs

Extension of the Expiration Date of Certain Illinois Sales Tax Exemption (“E”) Numbers

https://www2.illinois.gov/rev/Pages/default.aspx

https://www2.illinois.gov/rev/research/publications/bulletins/Documents/2020/FY2020-25.pdf

Short-Term Relief from Penalties for Late Sales Tax Payments

https://www2.illinois.gov/rev/Pages/default.aspx

https://www2.illinois.gov/rev/research/publications/bulletins/Documents/2020/FY2020-23.pdf

 

Federal and State: 2019 Federal and State extend filing on Income Tax

Deadline Extension to July 15th, 2020

State of IL: https://www2.illinois.gov/rev/individuals/filingrequirements/Pages/extension.aspx

Federal: https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed

Date

Mar 31, 2020 - May 31, 2020
Ongoing...
  • 147 S. Michigan
    Bradley, IL 60915

  • Phone: 815-932-2125

  • Fax: 815-933-9496

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