Small Business COVID-19 Relief Program

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The Business Invest - Illinois Small Business COVID-19 Relief Program (“Program”) is an impact investment loan program under which the State Treasurer has made up to $250 million in deposits available to financial institutions throughout the state, at near-zero rates, to assist Illinois small business and non-profits negatively affected by the COVID-19 pandemic.  The purpose of this funding is to provide vital economic support to small businesses and non-profits throughout Illinois to help overcome the loss of revenue they are experiencing. 


Through this program, the Treasurer's Office partners with approved financial institutions to provide loans -- either lower rate loans, or loans to a business or non-profit that would not otherwise qualify -- to Illinois small businesses impacted by the COVID-19 pandemic.


  • State funds will be deposited with qualified financial institutions for a 1-year term at a near-zero deposit rate of 0.01% (0.0001). 
  • Deposits can be drawn in $1 or $5 million increments, up to a maximum of $25 million per financial institution.
  • Deposited funds facilitate affordable loans (not to exceed 4.75%) to small businesses and non-profits to be used to provide bridge funding, pay fixed debts, payroll, accounts payable and other bills.
  • Eligible Illinois businesses or non-profits must: (1) have been shut down or limited due to COVID-19; (2) have less than $1 million in liquid assets or $8 million average annual receipts (per SBA standards); and (3) be headquartered in the state of Illinois or agree to use the funds in Illinois.
  • Deposits can be renewed on a basis determined by the Treasurer’s Office.
  • Financial institutions will be required to provide reports to the Treasurer's Office regarding the usage of program funds, including the number and types of loans provided and the economic impact of such loans.


How to Apply

Step 1:  Become an Approved Program Depository

To participate in Business Invest – Illinois Small Business COVID-19 Relief Program, financial institutions must be or apply to become an approved program depository with the Treasurer's Office. For more information, please visit:


•  Become an Approved Program Depository


We are actively working on a COVID 19 Relief Program participating financial institution list, please check back.



Step 2:  Review Eligibility and Submit Application


Approved depositories seeking to determine their eligibility and apply for Business Invest –Illinois Small Business COVID-19 Relief Program must review and submit the following document:


           •   Business Invest Illinois Small Business COVID-19 Relief Program Application, click here.


Daily Rates

Visit the Community Development Linked Deposit page to view the applicable impact investment deposit rates for Business Invest – Illinois Small Business COVID 19- Relief Program.


Contact Us

Should you have any questions, please contact the Invest In Illinois team at (217) 558-6217 or email