Small Businesses Can Now Start Applying For Federal Government Help
CHICAGO (CBS)-- Small businesses struggling through the COVID-19 stay at home order can start getting help from the federal government Friday.
This comes as more than 178,000 people in Illinois filed for unemployment last week.
Small business owners have a lot to worry about these days. It's not just about paying the bills because they are also trying to keep people employed.
CBS 2 spoke with the CEO of Veteran Roasters, a small business in Chicago. Brendan Marty says they are still roasting up beans for the clients they have left. He said they've lost 90% of their business and revenue.
So, he's working on the online applications meant to quickly get money into the hands of small businesses.
Whether it's the city or the federal government loan program, the majority of the money small businesses receive must be dedicated to payroll.
But even though Chicago's loan program started last week and the federal government beginning today, it's still not clear just how soon these businesses will get the money.