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Loan fund offers one-time, zero-interest loans of up to $20,000 for small businesses and up to $10,000 for independent contractors.
DEADLINE TO APPLY: Wednesday, June 17, 2020 at 11:59 pm.
Apply for the Community Recovery Fund
• The Cook County Community Recovery Fund application is live. Funds are available to support eligible suburban small businesses and independent contractors through the COVID-19 pandemic. Apply here.
• Se encuentra disponible la solicitud para el fondo de recuperación comunitaria del condado de Cook. Los fondos servirán para apoyar a los pequeños comerciantes suburbanos que sean elegibles y a los contratistas independientes afectados por la pandemia de la COVID-19. Aplicar aquí.
This loan fund offers one-time, zero-interest loans of up to $20,000 for small businesses and up to $10,000 for independent contractors in suburban Cook County. Loans will be administered by the Chicago Community Loan Fund and provided by a network of community lenders.
The application deadline is Wednesday, June 17, 2020 at 11:59 pm.
Who can apply?
Small Businesses are eligible if they are:
• Employing 25 or fewer employees,
• Earning less than $3 million in annual revenue,
• Located in suburban Cook County, and
• Revenues have decreased more than 25% as a result of COVID-19
Independent Contractors are eligible if you are:
• Making at least half of your yearly income in 1099 contract work
• Earning less than $100,000 annually
• Residing in suburban Cook County
What information is needed to apply?
• Bank statements from October 2019 to Date of Application
• Copy of Most Recently Filed Federal Tax Return
• Copy of Most Recent Annual Financial Statements (only required if small business)
• Photo ID of Independent Contractor or Business Owner – valid forms of identification consist of:
o A driver’s license issued by the State of Illinois or any other State of the United States of America
o An identification card issued by any State of the United States of America
o Consular identification
Please contact Lycrecia Parks of the Chicago Community Loan Fund at firstname.lastname@example.org or (312) 788-2496 with additional questions about the loan fund or inquiries about the application process. You can also call staff at the Chicago Heights Economic Development Corp. with questions or concerns at (708) 821-0711.