The Small Business Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits.
IHCC encourage all small business owners to work with your bank directly as soon as posible or call us at 312 425 9500
- If you have a business bank account reach out to your bank. If not, call us, we’ll help you.
- If you don’t have a business account at a bank, call us. We have contacts with regional banks and a credit union that can help you.
- If you been turned down by any banker, call us, we’ll help you.
- Any questions please don’t hesitate to call us, we’ll help you.
- Our mission is to help all latino business in Illinois grow.
REMEMBER: CALL US OR SEND US AN EMAIL. WE WILL HELP YOU
- Funds can also be used to pay interest on mortgages, rent, and utilities.
- Fully Forgiven Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll).
- Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
Must Keep Employees on the Payroll—or Rehire Quickly
- Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.
- Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
All Small Businesses Eligible
- Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors— are eligible.
IHCC is here to help. If you are a small business owner in Illinois and require immediate help, you can contact Silvia Bonilla, Director of the Illinois SBDC program at IHCC. Email: firstname.lastname@example.org
REMEMBER: CALL US TO AT 312 425 9500 OR SEND US AN EMAIL AT INFO@IHCCBUSINESS.NET