Businesses have to wait for emergency loans from City of Chicago – Crain’s

Chicago's biggest coronavirus relief program has paid out only a fraction of its goal. The program was intended to provide short-term relief to businesses in need of immediate cash infusions. At the time, according to city officials, the average small business in Chicago had just 28 days' worth of cash on hand, and some in areas such as Englewood had as few as five.

But five months and more than 10,000 applications later, only about $17 million has made its way to 625 small-business owners, program records show. Recipients include restaurants, bars and breweries, day care centers and auto shops, salons, retailers and heating and air conditioning companies.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE