Champaign-Urbana businesses varied in reasons to take — or not to take — federal loans
A $3 million forgivable federal loan helped one local agribusiness offset rising costs, while a $100,000 loan allowed another business to simply survive. In…
Source: U.S. Farm Credit Administration
Out of town business receives millions in PPP relief money from local bank
In April 2020, the federal Small Business Administration (SBA) began to give out loans via the Paycheck Protection Program (PPP). By the end of the…
Source: Small Business Association
Illinois Small Business Association releases Restaurant Revitalization Fund information
The U.S. Small Business Administration has announced details about the Restaurant Revitalization Fund, a program established under the American Rescue Plan Act Congress passed…
Darrell Hoemann
Habitat for Humanity, Champaign Executive Director Chad Hoffmanon in the Restore in Champaign on Friday, December 11, 2020. Photo by Darrell Hoemann/C-U Citizen Access
Small Business Incentive Program relief grants provides ‘much needed’ financial assistance
Forty-eight out of approximately 90 small businesses in Champaign received a total of $520,000 in grants from the Small Business Incentive Program COVID Relief Grants. The money for these grants came from the Federal CARES Act fund. The city council amended the pre-existing Small Business Incentive Program so that the program could be used to distribute this new funding in an efficient and productive way.