Wednesday, April 8, 2020 | View in browser
Loan and Grant Follow Up Survey
We are trying to gauge where everyone is in their process of securing funding so we can better prepare for the next steps as we look forward to recovery.
Please take a moment to complete this short survey to share the status of your grant and loan applications.
 Cook County has launched a comprehensive initiative to provide economic relief to small businesses, non-profits, community service organizations, and independent contractors (1099 workers) in response to the COVID-19 pandemic.
Cook County Community Recovery Fund
Zero-interest loan of up to $20,000 for small businesses and $10,000 for independent contractors in suburban Cook County. Applications will open in mid-April on a first-come, first-serve basis.
Eligibility Requirements for Small Businesses:
- Fewer than 25 employees
- Less than $3 million in revenue
Eligibility Requirements for Gig workers:
- At least half of income from 1099 contract work
- Less than $100,000 in gross annual income
To learn more and sign up for updates on when the application period opens, please complete this form.
COVID-19 Resource Overview
EIDL Emergency Advance - Receive up to $10,000 in grant funds made available within days of a successful application.
Paycheck Protection Program -A fully forgivable loan if all employees are kept on the payroll for eight weeks and the money is used for payroll (75%), rent, mortgage interest, or utilities. Find eligible lenders in your area here.
SBA Express Bridge Loan - Businesses who currently have a business relationship with an SBA express lender are able to access up to $25,000 quickly.
SBA Debt Relief - SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months and provide automatic deferments through December 31, 2020, for current SBA Serviced Disaster Loans that were in "regular servicing" status on March 1, 2020.
Illinois Small Business Emergency Loan Fund - Businesses located outside of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 are eligible to apply. Apply here.
For more information on these loan programs, please visit our Evanston Business COVID-19 Resource Checklist.
 Keep Evanston Awesome
We encourage everyone to continue supporting local businesses. Purchasing gift cards for later use, social media shout-outs, shopping locally online, ordering pick-up or delivery, and signing up for virtual classes can make a big difference during these challenging times.
Many local restaurants are still open for delivery and pick-up services, and essential businesses, such as grocery stores, gas stations, hospitals, hardware stores, and pharmacies, remain open.
Visit directories for local restaurants offering carry-out or delivery and open retail stores.
Local Businesses Support the Community
Local businesses and residents have stepped up to provide much needed support during the COVID-19 crisis. Evanston restaurants Jennifer's Edibles, Feast & Imbibe, La Principal, Hewn, NaKorn, Viet Nom Nom have all shown their support to our community through food donation and providing meals to those in need.
Ten Thousand Villages has turned their "library" into a free pantry, which is kept restocked by residents and will be open as long as needed. FASTSIGNS of Skokie is allowing clients to pay a portion of their invoice with gift cards from locally-owned restaurants in Evanston, Skokie, Winnetka, and Wilmette.
Read more about their efforts here.
It's great to see such inspiring work being done in our community!
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