Resources for Small Businesses

The City of Prospect Heights is sharing resource information to assist your business in this time of business uncertainty.  We know that your businesses have had to reorganize and revamp operations to meet the challenges of the COVID-19 response.  We are providing the Information below to assist you in identifying resources for your business situation.  We are here to offer any assistance that may help.  Please direct any suggestions or questions to dpeterson@prospect-heights.org.

Business Resource Links

Illinois Department of Revenue – Short-Term Relief from Penalties due to COVID-19

Small Business Administration Disaster Loan FAQ

Small Business Administration Disaster Assistance One Pager

Business Resources

Your Mayor, Nicholas J. Helmer

Mayor Website

Cook County Business Resources

Illinois Retail Merchants Association

Cook County Taxes 

The Cook County Department of Revenue is taking measures to support businesses in Cook County who are experiencing slowdowns or financial operational issues during this time of great uncertainty.  We are offering tax relief options by request. If any individual or business needs additional time to file and pay Home Rule Taxes, please email revenuecompliance@cookcountyil.gov.

IRS – Coronavirus Tax Relief Information

https://www.irs.gov/coronavirus

SBA Disaster Assistance

Coronavirus (COVID-19): Small Business Guidance and Loan Resorurces: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

The Illinois Disaster Loan Declaration allows all Illinois small businesses (according to SBA’s size standards) and private non-profits with a substantial economic injury related to COVID-19 to apply for loans of up to $2M. These loans can go toward working capital to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves. Interest rates are 3.75% for small businesses and 2.75% for non-profits. Business owners can apply for a loan now at https://disasterloan.sba.gov/ela/

The Illinois District Office is hosting twice-daily webinars on the Economic Injury Disaster Loans starting Thursday, March 18. You can find details and register for these training events at https://disasterloan.sba.gov/ela/

Support for Workers

IDES Unemployment Insurance - Governor Pritzker has made unemployment benefits available to those whose unemployment is attributable to COVID-19.

Worker Assistance by Illinois WorkNet.