April 2, 2020 Comments Off on Chicago Establishes $100M Small Business Resiliency Fund Views: 899 Chicago News, Downtown, Top Chicago

Chicago Establishes $100M Small Business Resiliency Fund

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Applications are now open for $100 million in low-interest loans through Chicago Small Business Resiliency Fund, the city’s unprecedented effort to support Chicago’s small businesses that are experiencing a temporary loss of revenue as a result of the coronavirus (COVID-19) outbreak. The initiative is funded through a combination of public and private sources, the latter including Clayco and Goldman Sachs’ Urban Investment Group.

“These unprecedented times call for unprecedented measures,” said Mayor Lori Lightfoot. “We know that our business owners and entrepreneurs don’t have the luxury to wait for federal support which is why with the Chicago Small Business Resiliency Fund, we are putting money directly into the hands of our small businesses now so that they can weather this storm.”

Through additional philanthropic dollars, the Lightfoot administration is working toward expanding the reach of this economic relief program.

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