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

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.