Johnson & Bell Shareholder, Mark D. Belongia, who works with privately and family held companies, notes that the Cook County Bureau of Economic Development has launched The Cook County Community Recovery Fund for businesses in suburban Cook County. The fund will provided rapid relief loans for small businesses, gig workers and independent contractors. This loan fund offers one-time, zero-interest loans of up to $20,000 for small businesses and $10,000 for independent contractors in suburban Cook County. Loans will be administered by the Chicago Community Loan Fund and provided by a network of community lenders. Applications open in mid-April on a first-come, first-serve basis.
To apply, businesses and independent contractors in suburban Cook County must meet these requirements:
- Small Businesses
- Fewer than 25 employees
- Less than $3 million in revenue
- Gig Workers
- At least half of income from 1099 contract work
- Less than $100,000 in gross annual income
If you have questions about this program, please contact Mark D . Belongia.