Munoz Announces New Loan and Grant Programs for Small Business Owners

Lawndale News Chicago's Bilingual Newspaper - Business

Lawndale News Chicago's Bilingual Newspaper - Business

Small businesses in need of relief are invited to apply for two new emergency assistance programs, Assistant Majority Leader Tony Munoz (D-Chicago) announced last Thursday. “My district is home to many small businesses that embody the cultural diversity and pride of our city and state,” Munoz said. “The COVID-19 outbreak has forced many of them to close, and we need to invest in them to preserve the economy and identity of our local neighborhoods.” To provide assistance to struggling small business owners, Mayor Lori Lightfoot unveiled the Chicago Small Business Resiliency Fund, a $100 million program that will support low-interest loans of up to $50,000 for small businesses in Chicago. Businesses with fewer than 50 employees, have gross revenues of less than $3 million in 2019 and have suffered more than a 25 percent revenue decrease due to COVID-19 will be eligible to apply. Businesses interested in applying for a loan should complete this interest form and they will hear from a representative as soon as possible.  Businesses can find more information on the program, https://us.accion.org/news/covid-19-hospitality-business-grant-program/ or apply at https://www.surveymonkey.com/r/ilgrant. A Spanish-language application is available, https://www.surveymonkey.com/r/IlgrantS

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