Wilhour Shares About Low-Interest Loans for Small Businesses Impact by Coronavirus

State Rep. Blaine Wilhour (R-Beecher City) says that the Illinois State Treasurer is making up to $250 million available for low-interest loans for small businesses and non-profits impacted by the coronavirus emergency.

“I know many businesses are finding ways to stay open and serve food or provide products that are needed during this crisis,” said Rep. Wilhour. “But for those who find themselves forced to shut their doors because of the ‘Stay at Home’ executive order by the Governor, these low-interest loans may be the answer for short term help they need.”

The state treasurer’s office announced it will make up to $250 million available to Illinois banks and credit unions that wish to participate in an impact investment loan program. The approved financial institutions will determine which small businesses and non-profits are eligible for the loans to help get them through the COVID-19 emergency.

For more about the Illinois Small Business COVID-19 Relief Program click HERE.

(https://illinoistreasurer.gov/Invest_in_Illinois/Small_Business_COVID-19_Relief_Program)

The purpose of this program is to provide vital economic support to small businesses and non-profits to help overcome the loss of revenue they are experiencing. Through this program, the Treasurer's Office would 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.