Paycheck Protection Program FB

PEORIA – On news that the federal government has restored funding to it, State Senator Dave Koehler (D-Peoria) urged business owners to take advantage of the Paycheck Protection Program for small business owners.

“Small businesses are the lifeblood of our community, and we need them to resume operation once we begin the process of reopening the economy. It’s crucial that local business owners apply for these loans while there is money available,” Koehler said. “If your business qualifies and you need assistance, I implore you to apply as soon as possible.”

The Paycheck Protection Program began taking applications again on Monday. Koehler urges local businesses to submit applications as soon as possible if they wish to take advantage of the business assistance program.

Qualified businesses in one or more of these categories include:

  • The self-employed,
  • Businesses with fewer than 500 employees,
  • Sole proprietors,
  • Independent contractors,
  • Those designated private non-profit 501(C)(19), and
  • Veteran-owned organizations

The loan is meant to keep small business workers on the payroll, and it will be forgiven if employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities.

For more information, visit SBA’s website.

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Springfield Office:
323B Capitol Building
Springfield, IL 62706
(217) 782-8250

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400 NE Jefferson, Suite 200
Peoria, IL 61603
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