2020

SPRINGFIELD — The Illinois State Treasurer’s Office today announced it is increasing to $500 million the amount of money available to small businesses for low-interest bridge loans to help employers navigate the COVID-19 pandemic. Illinois State Treasurer Michael Frerichs made the decision because nearly all of the initial $250 million he made available in March has already been committed to financial institutions throughout the state. Frerichs has the sole authority to make the money available through the linked deposit program, which has been a core function of the Illinois Treasurer’s…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today encouraged families to take a drive, enjoy a walk, or explore their own farm, while physical distancing, to take pictures to submit for the 2020 Cream of the Crop Photo Contest. The 8th annual contest encourages young photographers to share their vision of agriculture in our state. “With kids at home from school with their families, this is a great opportunity to go on a walk, take a drive, or even explore their own farming property to capture the beauty of Illinois…

Harrisburg, PA — Pennsylvania Treasurer Joe Torsella today joined with Delaware Treasurer Colleen Davis, Illinois Treasurer Michael Frerichs, Rhode Island Treasurer General Seth Magaziner, and Colorado Treasurer Dave Young to call on manufacturers of ventilators to release service manuals to repair ventilators, for the duration of the coronavirus pandemic. Without this critically important information, hospitals are unable to make repairs to ventilators, rendering them unusable during a time of dire need. “In a public health crisis, every second counts,” said Torsella. “There shouldn’t be a single ventilator sitting in a…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today announced that non-profit organizations interested in applying for grants through the Charitable Trust Stabilization Fund now have until April 30 to submit their paperwork. Frerichs decided to give organizations more time to apply given the impact of COVID-19. “Now more than ever, non-profit organizations need the extra funding to assist with their important missions of providing food, shelter, and economic development,” Frerichs said. “We all are adjusting to this new normal and hope the extra time encourages more organizations to apply.” The…

SPRINGFIELD — Illinois small businesses can tap into $250 million in low-interest bridge loans as soon as this week to help push through the COVID-19 pandemic, Illinois State Treasurer Michael Frerichs said today. The state treasurer’s office will make $250 million available to Illinois banks and credit unions that wish to participate. The financial institutions will determine who is eligible for the loans. “We can move faster than the federal government and its partners because we are not slowed by the partisanship that overshadows such efforts,” Frerichs said. “Part of…