We are here for you! We will get through this together and stronger. Here are some resources we have compiled to assist during these unknown and uncertain times.
COVID-19 Business Resources
Security Bank Press Release
Security Bank Responds to Loan Customers Impacted by COVID-19
Springfield, IL (March 20, 2020) – Security Bank, s.b., a mutual savings bank in the Springfield community for over 144 years, is committed to the financial health of our community and its residents. Security Bank encourages our loan customers who have been financially impacted by COVID-19 to contact the Bank. Security Bank is willing to work with loan customers to help relieve any financial hardships they may encounter during the public health emergency and work with them on payment remittance to avoid delinquencies.
"We at Security Bank understand the impact that our community is going through with the COVID-19 pandemic. We want to try to make every accommodation for our loyal customers so they may concentrate on the well-being of those who are closest to them. We are available to help, give us a call," said Stephan Paul Antonacci, President and CEO. "Please, everyone, take care of yourself and those around you. We are here for you."
Security Bank, s.b. intends to work closely with customers affected by the COVID-19 pandemic. Security Bank, along with the backing of the FDIC recognizes that such efforts serve the long-term interests of communities and the financial system when conducted with appropriate management oversight that is consistent with safe and sound banking practices and applicable laws, including consumer protection laws.
Contact: Destiny Nance-Evans Security Bank, s.b.
Log your business on SpringfieldZoom.com. Create a free account and update your profile as needed. All Sangamon County businesses are encouraged to create a profile.
Now is the time to participate in social media. Don't have a page or profile? Now is the time to set one up. Keep your customers up to date on what is happening with you and your business. Pictures, eCommerce are all great ideas to use and post on social media.
Loan and Grant Programs:
The Greater Springfield Chamber of Commerce
IL Emergency Small Business Grants and Loans Assistance
Deadline April 1 at 5:00 pm
Small Business Administration
All Illinois small businesses can now apply for low-interest disaster loans to help offset the economic impact of the coronavirus pandemic. The Illinois District Office will host free webinars as long as there is demand covering:
- Use of proceeds
- Filing requirements
- Additional small business resources
The SBA's Economic Injury Disaster Loan program provides low-interest loans of up to $2 million to small businesses and private non-profits affected by the coronavirus pandemic.
- These working capital loans can be used to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves. They have repayment options of up to 30 years.
- Here are the documents you'll need to provide to complete the application:
- SBA Form 5 or SBA Form 5C for sole proprietorships - SBA loan application
- IRS Form 4506T - Tax Information Authorization for the applicant, principals and affiliates
- Complete copies of the most recent Federal Income Tax Return.
- SBA Form 2202 - Schedule of Liabilities
- SBA Form 413 - Personal Financial Statement
- SBA Form 1368 - Monthly sales figures
- We recommend you apply online, but preparing these documents ahead of time will streamline the process for you.
Visit sba.gov/coronavirus for updates on the loan program, guidance for businesses and employers, and other SBA resources.
Follow @SBA_Illinois on Twitter.
All Illinois small businesses (according to SBA’s size standards) and private non-profits can now apply for loans of up to $2 million through the U.S. Small Business Administration’s Economic Injury Disaster Loan Program. If your businesses have been affected by the coronavirus pandemic, this program offers working capital to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves. Interest rates are 3.75% for small businesses and 2.75% for non-profits. Your businesses may apply now at https://disasterloan.sba.gov/ela/
- Economic Injury Disaster Loan Program FAQ
- Daily Webinars will be available at www.sba.gov/il
- Disaster loan information at https://disasterloan.sba.gov/ela/Information/Index
- Information for small businesses affected by coronavirus at www.sba.gov/coronavirus
- All coronavirus-related federal government resources: www.usa.gov/coronavirus
Find more information for small businesses affected by coronavirus at www.sba.gov/coronavirus. Subscribe to email updates from SBA at bit.ly/SubscribeIL to stay up to date on SBA news and events. SBA resource partners (Illinois Small Business Development Centers, WBDC, SCORE, Veterans Business Outreach Center) stand ready to help. Go to www.sba.gov/local-assistance to find a counselor or mentor.