Illinois HB5264 establishes a loan program for small businesses negatively impacted by federal immigration enforcement.
Illinois HB5264 amends the Department of Commerce and Economic Opportunity Law to create a loan program for small businesses affected by federal immigration enforcement. The Department of Commerce and Economic Opportunity will provide low-interest loans, up to $50,000 per business, to eligible small businesses. To qualify, businesses must have employed 50 or fewer persons and had gross receipts of $3,000,000 or less in the prior year. Additionally, the business must be located in an area materially impacted by federal immigration enforcement.
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