West Loop Community Organization issued the following announcement on March 20.
In a speech delivered to Chicagoans last night, Mayor Lori E. Lightfoot announced a new $100 million economic relief package to support Chicago's small businesses that are experiencing a temporary loss of revenue as a result of the COVID-19 outbreak. Building on the administration’s ongoing efforts to help reduce the financial impact of this public health crisis on residents, the City is launching the new Chicago Small Business Resiliency Loan Fund to provide more than $100 million in low-interest loans to severely impacted small businesses over the coming months. Here’s what people are saying about it:
“Goldman Sachs is proud to step up to anchor Mayor Lightfoot’s Small Business Resiliency Loan Fund with private capital. This is an unprecedented time and making urgent capital available to small businesses — the backbone of our communities and economy — is crucial in this very difficult time.”
—David Solomon, Chairman and Chief Executive Officer of Goldman Sachs
“Small businesses are the backbone of our city’s economy. Fifth Third Bank recognized the immediate need to join Mayor Lightfoot and the City on this critical initiative, and we are confident others will step up as well.”
—Mitchell Feiger, Regional Chairman and CEO of Fifth Third Bank, Chicago
“Extraordinary times call for decisive and meaningful action. This effort by the Mayor means that Chicago’s small businesses hit hardest by this crisis will have an opportunity to rebuild. And make no mistake — by working together and supporting our small and independently owned businesses community, we will make it through this. WLCO continues to advocate that our restaurants and small, independently owned businesses be added to the federal stimulus bill.” —Carla Agostinelli, Executive Director of West Loop Community Organization (WLCO)
Original source can be found here.
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