May 27th,2020- The Illinois Department of Commerce and Economic Opportunity (DCEO) today announced a new $7.3 million investment from the U.S. Small Business Administration (SBA) for the Illinois Small Business Development Center (SBDC) program – a statewide network focused solely on supporting Illinois businesses and entrepreneurs in starting, growing and maintaining their businesses at no cost.
The new funding will bolster the SBDC network of 40 community-based teams to provide additional resources for education, training, and professional business advising to small businesses that have experienced supply chain disruptions, staffing challenges, a decrease in gross receipts, or customers, or a closure as a result of COVID-19.
“With 1.2 million small businesses employing nearly half the state’s private workforce, Illinois’ small businesses are truly the lifeblood of Illinois’ economy and core to DCEO’s mission,” said Michael Negron, Assistant Director of DCEO. “This additional funding will help us reach even more employers in providing the assistance and resources they need to not only move beyond this crisis but to emerge stronger and thriving.”
The new funding will support SBDC host organizations to increase assistance and expand outreach for small businesses across the state, with a concerted effort to reach businesses owned by minorities, women, persons with disabilities, veterans, and those located in rural areas.
“The Illinois SBDC welcomes these additional resources through our federal partner the U. S. Small Business Administration in order to dramatically increase the capacity and level of assistance provided to Illinois entrepreneurs and small businesses, particularly to those small businesses in underserved areas throughout the state,” said Mark Petrilli, the State Director for the Illinois SBDC Network.
“The SBA is thrilled to see additional support going to the Illinois Small Business Development Center network, who are tireless advocates for the state’s entrepreneurs,” U.S. Small Business Administration Illinois District Director Robert “Bo” Steiner said. “These centers have provided critical support to small business owners impacted by COVID-19 as they apply for loans and strategize for the coming weeks, months, and years. We look forward to seeing the impact of our shared efforts and growing our partnership.”
