LISC Small Business Relief Grants
TIME SENSITIVE – Applications must be submitted by Tuesday,
April 28 at 11:50PM EST.
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[September 16, 2020]
Who is eligible?
They will support small businesses and enterprises impacted by
COVID-19 across the country, especially those in underserved
communities, including entrepreneurs of color, women- and
veteran-owned businesses that often lack access to flexible,
Applications will be reviewed based on criteria
designed to prioritize particularly challenged businesses, and the
final grantees will be randomly selected from the top scoring
applicants. Each grant is limited to one individual/business.
Non-profit organizations are ineligible for this particular pool of
Before completing the application, please read the Grant Overview
grants/frequently-asked-questions/. Applications must be
submitted by Tuesday, April 28 at 11:59PM EST. Grants will be made
in the amounts of $5,000, $7,500, and $10,000.
Will there be additional documentation required?
If your business is selected as a finalist, you will be notified via
email. Being selected as a finalist does not guarantee you will
receive a grant. As a finalist, additional documentation will be
required to screen and verify business information for due
diligence, which is required by the funding source.
Have additional questions?
They are monitoring inquiries sent to
SmallBusinessGrants@lisc.org and will be posting answers and
updates on this landing page (https://www.lisc.org/covid-19/small-business-assistance/small-business-relief-grants/frequently-asked-questions/)
in an effort to support transparency and equal access to information
for all applicants.
To learn more, visit
LISC Small Business Loans - Emergency Financing for Small
(program brought to you with funding from State Farm®)
LISC provides loans from $75,000 to $500,000 to small businesses
through the LISC Rapid Relief and Resiliency Fund. The program
allows LISC to make loans similar to banks, but with more flexible
credit standards to reach businesses that might not qualify for
conventional bank financing.
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What are the rates and terms?
Size: $75,000 - $250,000 (real estate up to $500,000)
Uses: working capital, equipment, inventory, tenant improvements,
real estate purchases, debt refinancing, etc.
Interest rate: 2% for initial 12 months (up to 6.75%)
Equity: 10% equity at closing (non-working capital)
Up to 48 months
Up to 20 years amortization for real estate loans
Loans have no pre-payment penalties
Real estate and equipment, if subject of the loan
First lien UCC on all business assets
Personal guarantee from all owners
Existing businesses with 3 years minimum experience
3 years tax returns required (business and personal)
Minimum sales of $150,000 annually
To apply, please complete this questionnaire, a critical step in
determining eligibility for the program:
Questions? Contact SmallBusiness@LISC.org.
To learn more about LISC Central Illinois, visit
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