Illinois Governor J.B. Pritzker’s administration has taken a series of actions aimed at helping bars and restaurants impacted by slower business during the coronavirus pandemic.
On Thursday, the governor announced that he had ordered the Department of Revenue to defer sales tax payments for more than 24,000 bars and restaurants across the state. The governor also said that those businesses will not be charged penalties or late fees on sales tax payments due in March, April and May.
Restaurants and bars that incurred less than $75,000 in sales tax liabilities last year will be eligible for the tax relief, according to the governor.
“Our small businesses are already hurting and the root of that pain isn’t going to go away any time soon,” the governor said during a press conference Thursday.
Pritzker also announced that the U.S. Small Business Administration has approved the state’s request for disaster assistance loans. Eligible businesses can visit the administrations website to apply for up to $2 million in low-interest loans, according to a press release from the governor’s office.
While the businesses have only been closed for three days, Pritzker is hopeful that federal loan dollars will help those businesses to remain afloat during the crisis.
“These SBA loans will be an enormous help to them and I’m grateful to our federal partners for the help they’ve provided us,” Pritkzer said.