Financial Assistance for your Business
At all levels of government, resources are being developed to provide relief to small businesses that are being negatively impacted by the coronavirus pandemic. Stay tuned. We’ll update this page as new programs become available.
Federal CARES Act - Learn more >
Elk Grove Village Coronavirus Relief Package - Learn more >
Illinois Department of Commerce (DCEO) Programs
The DCEO is working with partners to launch emergency assistance programs for Illinois small businesses. Learn more >
Illinois State Treasurer
The State Treasurer has made up to $250 million in deposits available to financial institutions throughout the state, at near-zero rates, to assist Illinois small businesses and nonprofits. Learn more >
Cook County has launched the Cook County Community Recovery Initiative, a comprehensive initiative that will provide rapid relief loans of up to $20,000 to small businesses, gig workers, and independent contractors in Suburban Cook County. To apply, businesses and independent contractors must have fewer than 25 employees, less than $3 million in revenue, be classified as gig workers, have at least half of income from 1099 contract work, and/or less than $100,000 in gross annual income. Applications are open through June 18.
A portion of the Elk Grove Business Park is located in Dupage County, which has recently announced that it is re-launching Reinvest DuPage, a grant relief program developed in partnership with Choose DuPage for small businesses and independent contractors. DuPage County will fund this initial program with $7 million in monies received under the federal CARES Act. These grants can be used for employee retention payroll, utilities, and rent. The online-only application portal is expected to launch at 9 a.m. May 18. Learn more >
U.S. Small Business Administration
- Federal guidance and loan resources are available for small businesses. Learn more >
- The Paycheck Protection Program is an SBA loan that helps businesses keep their workforce employed during the Coronavirus. Businesses must apply through a participating lender. Download the Borrower Application Form and find a lender to get started.
- Disaster assistance is also available. Learn more >
Save Small Business Grant
The Save Small Business Fund, a grant-making initiative funded by contributions from corporate and philanthropic partners, is providing $5,000 in short-term relief to employers across the United States. These one-time supplemental cash grants are for businesses that have between three and 20 employees and operate in an economically vulnerable community. The grant application is available starting Monday, April 20. To learn more about the Save Small Business Fund and to apply for a grant, visit www.savesmallbusiness.com.
Cook County Illinois Business Needs Survey
Are you a business or employee with confirmed cases of COVID-19? Your responses to this survey will help the county prioritize business assistance programs. Learn more >
HELP EXPAND THE LIST
Have or know of a program to add to this list?
Josh Grodzin, CECD - Director, Business Development & Marketing Elk Grove Village
P: 847-357-4005 | E: JGrodzin@elkgrove.org
Nick Radcliffe - Economic Development Specialist
P: 847-357-4013 | E: NRadcliffe@elkgrove.org