Cook County Community Recovery Loan Fund Now Accepting Applications
Posted byjoecollier
Cook County has launched an initiative to provide economic relief to small businesses and independent contractors in response to COVID-19. Beginning today, the Community Recovery Loan Fund is accepting applications. The $10 million fund offers one-time, zero-interest loans up to $20,000 for small businesses and up to $10,000 for independent contractors. The fund is only available in Suburban Cook County. Application deadline is June 17, 2020
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