Cook County Community Recovery Fund Accepting Applications Through June 18

Cook County Community Recovery Initiative

Cook County Commissioner Kevin Morrison recently shared information about the Cook County Community Recovery Fund, which offers a one-time, zero-interest loan of up to $20,000 for small businesses and up to $10,000 for independent contractors in suburban Cook County. The fund opened for applications on June 8, and applications will be accepted through June 18. Please see below for more information on qualification and the application process.

Small Businesses located in suburban Cook County are eligible if they:

Employ 25 or fewer employees
Earn less than $3 million in annual revenue
Saw revenues decrease up to 25% as a result of the COVID-19 pandemic

Independent Contractors are eligible if they:

Make at least half their yearly income in 1099 contract work
Earn less than $100,000 annually
Reside in suburban Cook County (outside the boundaries of the City of Chicago)

Applicants should be prepared to provide the following information:

Bank statements from October 2019 to Date of Application
Copy of most recently filed Federal Tax Return
Copy of most recent Annual Financial Statements
A valid Photo ID of Independent Contractor or Business Owner

As always, the Elk Grove Village economic development team is available to provide additional support and connect you with resources to help your business. Learn More

Please Note: This article was originally published and sent out via Elk Grove Village's Beyond Business Friendly newsletter.