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Illinois congressional delegation urges Small Business Administration to approve federal loan assistance for Illinois in response to coronavirus
WASHINGTON–Members of the Illinois Congressional delegation sent a letter to Small Business Administration (SBA) Administrator Jovita Carranza supporting Illinois Gov. JB Pritzker’s request for a SBA Economic Injury Declaration for Illinois amid the coronavirus pandemic. As of this week, more than 100 cases of coronavirus have been confirmed in Illinois.
“The economic impact the pandemic is having on Illinois businesses and the local communities they serve is dire, and there is extraordinary demand for state and local government resources for emergency response. Assisting small businesses in recovery is of the utmost importance to these communities,” the members wrote.
A SBA Economic Injury Declaration would provide low-interest federal loans of up to $2 million to small businesses and non-profit organizations, which may be used to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid due to the impact of the coronavirus pandemic.
The letter was signed by the entire delegation: senators and representatives.
Full text of the letter is available here and below:
We are writing in support of Illinois Governor JB Pritzker’s request for a U.S. Small Business Administration (SBA) Economic Injury Declaration for qualifying counties in Illinois amid the COVID-19 (coronavirus) pandemic.
As of this week, more than 100 cases of coronavirus have been confirmed in Illinois. The Governor has ordered the closure of all dine-in restaurants and bars, and he has prohibited gatherings of 50 people or more.
The economic impact the pandemic is having on Illinois businesses and the local communities they serve is dire, and there is extraordinary demand for state and local government resources for emergency response. Assisting small businesses in recovery is of the utmost importance to these communities.
Governor Pritzker has determined that this incident is of such severity and magnitude that effective response is beyond the capabilities of the state and local governments. We respectfully request that you issue a SBA Economic Injury Declaration that includes all counties for which the Governor has requested such assistance, and that the loans also be offered to the counties that are contiguous to the declared counties.
Thank you in advance for your timely consideration of this important request. We stand ready to assist in any way appropriate.