COVID-19: Rapid Recovery Loan


The Winnebago County COVID-19 Rapid Recovery Loan Program (RRL) aims to assist businesses in Winnebago County that are negatively affected by the economic impact of COVID-19. The low-interest loan helps keep businesses financially solvent while complying with the enforced restrictions. 

Contact Jennifer Brown for more information at



Businesses must meet specific eligibility requirements to receive money from the COVID-19 Rapid Recovery Loan Fund. The Winnebago County RRL allows for any single business enterprise to obtain funds at a level of $1,000, $2,500, $5,000 or $10,000. 



Any viable private enterprise with at least one year of financial history that can demonstrate economic hardship or impact due to the COVID-19 pandemic.


  • Rent/Mortgage payments with due dates 4/1/2020 or later 
  • Commercial property utilities 
  • Payroll expenses including sick, family, and other leave related to COVID-19
  • Pre-existing purchase orders, before 3/15/2020


The Winnebago County RRL Committee will use the following guidelines to evaluate each loan application:

  • Loan Amount: Funds are available for any single business enterprise in the amounts: $1,000, $2,500, $5,000 or $10,000. 
  • Loan Terms: The term of the loan will be a 3-year amortization schedule.
  • Interest Rates:  Each loan has a set 2% interest rate.
  • Repayment: The deferment period of principle and interest payments expires six months from the date of distribution. 
  • Collateral: Collateral requirements shall be determined on an individual basis by the RRL Committee.
  • Location: Business must have a physical address within Winnebago County.
  • Approval: Submission of an application does not guarantee funding, and all applications will be reviewed by the committee. Applicant can decrease or decline funding upon notification of approval.