DCEO-SMALL BUSINESS LOANS

The bill establishes a loan program to help small businesses that have been hurt by economic downturns, such as federal immigration enforcement actions. It creates an Economic Recovery Fund and allows the state to guarantee 100% of the loans, making it easier for small businesses to access low-interest loans without needing to use their own capital. The Department of Commerce and Economic Opportunity will oversee the program and pay lenders for their services.

IL HB5264 is a house bill in the Illinois 104th General Assembly, sponsored by Elizabeth Hernandez (D), currently “Engrossed” since April 17, 2026.

We track 11,074 Illinois bills this session, 30 of them sponsored by Elizabeth Hernandez.

The key recorded vote (House, April 17, 2026) ended 63–34 and passed.

Supporters of the bill argue that it provides vital financial support to small businesses struggling due to recent economic shocks, helping to stabilize the economy and promote recovery. They believe the loan program will enable businesses to thrive and create jobs, ultimately benefiting the broader community.

Critics may contend that the bill prioritizes certain businesses over others and raises concerns about the state's financial commitments to guarantee loans. They might argue that it could lead to misuse of funds or that the program does not address the root causes of economic instability faced by small businesses.

Source: LegiScan roll call vote data.