Crystal Lake Coronavirus: Help For Small Businesses, Nonprofits

CRYSTAL LAKE, IL—The new coronavirus continues to take an economic toll on many nonprofits and small businesses in Crystal Lake who rely heavily on customers and donors to stay afloat. As many people continue to face job uncertainty or loss, income for many small business owners and organizations has also slowed.

In an effort to help local nonprofits and small businesses during the pandemic, Crystal Lake officials plan to host a free webinar this week that provides useful information on various U.S. Small Business Administration loan programs included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Once such popular loan includes the Paycheck Protection Program, which is designed to provide a direct incentive for small businesses to keep their workers on the payroll. According to the National Council of Nonprofits, nonprofits are also eligible for the loan program.

The webinar, which will take place on April 16 at 2 p.m., will explain this particular loan program in further detail as well as others so nonprofits and small businesses can determine which one is the best fit for them. It will also include details on how to file for financial assistance as well as a question and answer session.

To register for Thursday's webinar, click this link.