Illinois State Treasurer Small Business

COVID-19 Relief Program

The state treasurer’s office has made $250 million available in bridge loans to small businesses through participating Illinois banks and credit unions. The financial institutions will determine who is eligible for the loans.

  • The Illinois State Treasurer has made $250 million in deposits available to financial institutions throughout the state, at near-zero rates, to assist Illinois small business and non-profits negatively affected by the COVID-19 pandemic.

  • The Illinois State Treasurer's Office will partner with approved financial institutions to provide loans -- either lower rate loans, or loans to a business or non-profit that would not otherwise qualify -- to Illinois small businesses impacted by the COVID-19 pandemic.

    • Eligible Illinois businesses or non-profits must: (1) have been shut down or limited due to COVID-19; (2) have less than $1 million in liquid assets or $8 million average annual receipts (per SBA standards); and (3) be headquartered in the state of Illinois or agree to use the funds in Illinois.

  • See full details of the program on the Illinois State Treasurer's website. 

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Our SBDC is funded in part through a cooperative agreement with the the U.S. Small Business Administration, the Illinois Department of Commerce and Economic Opportunity, Illinois Wesleyan University, the City of Bloomington, and the Town of Normal. 

Small Busness Administration
Illinois Department of Commerce and Economc Opportunity
City of Bloomington, IL
Town of Normal, IL