The City of Chicago recognizes that COVID-19 has put a difficult burden on our business and non-profit community. As a response to this challenge, the City of Chicago has established the Chicago Small Business Resiliency Fund to provide small businesses and non-profits with emergency cash flow during this health crisis.
Applications for loans through the Chicago Small Business Resiliency Fund have closed. Loan applications continue to be processed through lending partners, including Accion Serving Illinois and Indiana, Chicago Community Loan Fund, and the Community Reinvestment Fund, USA (CRF).
The Resiliency Fund is structured to complement the federal Paycheck Protection Program through the U.S. Small Business Administration. The City of Chicago has established Small Business Resource Navigators to provide one-on-one guidance to businesses to help them navigate the many available financial and support resources.
Additionally, the City of Chicago is accepting applications for grants through the Microbusiness Recovery Grant Program will be accepted from April 28 through May 4. Grants of $5,000 will be available to businesses in low- and moderate-income Community Areas that have four or fewer employees and less than $250,000 in annual revenue. Click here to learn more.