Small Business Resources

Payroll Protection Program

Federal

$349B

<500 Employees

Independent Contractors

Private non-profit

<$10M

0.50%

<2 Years

Working Capital

Loan equal to 2.5x average monthly payroll

Six month deffered payments

Eligible for forgiveness, non-taxable

No personal guarantee or collateral

Applications begin 4/3/20

Apply through SBA lender

SBA Economic Injury Disaster Loans and Emergency Advance

Federal

$10B

Meet SBA Small Business size standard 

Acceptable Credit Score

<$2M

For profit: 3.75%

Non-profit: 2.75&

<30 Years

Working Capital

$10,000 Advance Grant within 3 Days

One year deferred payments

Loans <$25K can be uncollateralized

Apply online: switch browsers if having issues with website

SBA Express Bridge Loan Pilot Program 

Federal

N/A

Business meets SBA 7(a) requirements 

Existing Banking relationship with an SBA Express Lender

<$25K

<Prime + 6.5%

<7 Years

Working capital for survival or reopening of the small business

Only available from SBA express lenders

Fees may apply

Illinois Small Business Emergency Loan Fund 

State

$30M

Outside City of Chicago

<50 Employees

2019 Revenue <$3M

More than 25% COVID-19 Revenue Impact

Minimum one year operation

 <$50K

3%

5 Years

Working Capital

50% toward payroll & compensation (excluding salaries >$100,000)

Loan amount = pre-covid average monthly revenue

Commit to retain 50% of employees for 6 months

Six months deferred payments

Loan decision within 10 days

Illinois Downstate Small Business Stabilization Program 

State 

$20M

Non-HUD Entitlement communities

<$25K

N/A

N/A

Working Capital

Grant equals 60 days verified working capital

For profit retail service OR 

Declared non-essential by EO

<50 Employees

CDBG Regulations Apply

Subsidy for Current SBA Loan Payments 

Federal

TBD

Current & New 7a loan holders

TBD

N/A

N/A

6 months of paid principal & interest payments

Small Business Development Center

City of Rochelle Partnership w/ Kishwaukee & Waubonsee Colleges

N/A

Small Business Owners

N/A

N/A

N/A

Resource available for assistance with loan programs or small business guidance.  Funded by City of Rochelle and local sponsors.  Free to businesses.

Contact Jock Sommese:  or 267-275-6950 

Residential Utility Late Fee & Shutoff Suspension 

Rochelle Municipal Utilities

 TBD

Residential Customers

Late Fee

N/A

Thru 4/30

N/A

Contact RMU Customer Service to make payment arrangements at 815-562-4155

Hotel/Motel Tax Deferrment 

City of Rochelle

TBD

Hotel Owners

Tax Portion

N/A

Thru 5/31

Waives hotel/motel tax for two months for Rochelle hotel/motel owners

Housing Assistance 

Tri-County Opportunities Council

TBD

Must be within CSBG 125% income guidelines

Must have documentation of work/loss or medical proof of quarantine due to covid-19

TBD

N/A

N/A

This new program will provide financial assistance for two months of rent or mortgage (including escrow) for those that have been affected by the covid-19 pandemic.

Contact: Renee (Ogle County)

Residential Electric & Water Assistance

Rochelle Municipal Utilities

TBD

Current income 150% of poverty level

Income of 200% of poverty level (pending Council approval on 4/13)

TBD

N/A

N/A

Financial Assistance to cover water & electric bills through Rochelle Municipal Utilities

Call RMU Customer Service at 562-4155

Package Liquor Sales

City of Rochelle

Rochelle Restaurants & Bars

During Executive Ordered Bar/Restaurant Closure

Visit the link to fill out & submit form to Mayor Bearrows

For questions, contact Mayor John Bearrows or 815-561-2001

Small Business Seminar

City of Rochelle/Rochelle Chamber of Commerce

Tuesday 4/7 at 2pm or 6pm

Contact Jenny Thompson to register at or 815-440-6304