See here options to help small businesses

Negocios Now brings small businesses key information regarding available help from the  SBA, different government agencies, City of Chicago, Cook County and grants from private companies such as Facebook. Central Management Services of the  State of Illinois provided Negocios Now the summary below of different options that we are sharing with small business owners.

The Business Enterprise Program (BEP) provides this information to Negocios Now and continues to support our vendors by providing important information about resources available for Illinois Businesses during these critical times. Businesses are struggling and many are in need of guidance on how to keep their doors open and retain their staff 

Paycheck Protection Program (PPP)

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020.

This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organizations or 501(c)(19) veterans organizations affected by coronavirus/COVID-19. To get further details or apply, please click on this link: Paycheck Protection Plan.

What is the State of Illinois doing to protect its residents?

Gov. Pritzker announced an extension of the state’s disaster proclamation, requiring individuals to stay at home or their place of residence for an additional 30 days. Executive Order 2020-18 mandates that individuals may leave their homes only for essential activities or for essential operations. It extends the suspension of on-site learning in K-12 schools, with schools transitioning from Act of God Days to Remote Learning Days and provides the authority for the governor to sign additional executive orders to extend the Stay at Home order. This supersedes Executive Order 2020-10.

What is the State of Illinois doing to help COVID-19 patients?

Governor JB Pritzker, Mayor Lori E. Lightfoot, the US Army Corps of Engineers and the Federal Emergency Management Agency (FEMA) announced on Monday, March 30, 2020 plans to temporarily convert part of the McCormick Place Convention Center into an Alternate Care Facility (ACF) for COVID-19 patients with mild symptoms who don’t require intensive care. The additional capacity at McCormick Place will build on efforts taken by the State and City to aid in the response to COVID-19 related cases by relieving pressure on the hospital system by freeing up beds for more patients with severe COVID-19 cases in anticipation of the surge in positive COVID-19 diagnoses to come.

What is the State of Illinois doing to support residents and businesses?

Tax Relief

  • Individual Income Tax Extension The State is extending the income tax filing and payment deadline by three months, from April 15 to July 15. The Department of Revenue (IDOR) will continue to process tax refunds for those filing ahead of the new deadline.
  • Sales Tax Assistance for Restaurants and Bars Restaurants and bars across the State that incurred less than $75,000 in sales tax liabilities in 2019 will be able to defer sales tax payments. The Illinois Department of Revenue will not charge these business penalties or late fees on sales tax payments due in March, April and May.

Illinois Appreciates Donations

Despite the many challenges faced by many Illinoisans, generous donations have been received by needy organizations.  Not surprisingly, during these challenges Illinoisans are stepping up and pulling together. Many businesses and organizations have already reached out to offer support, donations, and assistance in any way they can. Their contributions have made a difference and are much appreciated by us all. For example, iBio.org a Chicago-based life sciences industry association is coordinating efforts from among their membership to donate much-needed medical supplies vital for our Illinois communities. We are asking for your support in providing our hospitals, Illinois doctors and first responders that are in desperate need of items. For donations of personal protective equipment, please email PPE.donations@illinois.gov.

Individual Income

Under the Pritzker Administration and in conjunction with federal action, Unemployment Insurance benefits will be extended to individuals who are losing wages and income due to the COVID-19

BEP Support

The Business Enterprise Program is offering a Webex Help Initiative for vendors with pending applications due to incompletion. These webinars will be starting Tuesday, April 7, 2020, and will be ongoing. There will be live BEP staff from both Outreach and Certification that will be available to answer your questions and help you through the process. 

The Business Enterprise Program is extending certification renewal deadlines for all vendors whose certification expired from March 9th through the duration of the COVID-19 response. Many document sources, such as the IRS and the Illinois Secretary of State and notaries are unavailable during this time. We continue our work creating parity through goal setting and contract compliance, however, BEP vendors who are unable to meet documentation requirements, by reason of the COVID-19 situation, will not be penalized.

If your certification is at risk of lapsing or has elapsed since March 9th, submit your application with the documents you have on-hand without delay: all currently-certified firms who submit their applications for renewal will be granted extensions.

This week and periodically throughout these troubles, BEP will continue to provide resources and support for our vendors. In addition to the listed opportunities, if you or any firms you know of are positioned to provide resources for the State of Illinois COVID-19 response, please contact COVID.PROCUREMENT@illinois.gov.

 

RESOURCES
Entity Website Description
US SMALL BUSINESS ADMINISTRATION Link Providing economic injury disaster loans for Coronavirus related economic disruptions
ILLINOIS TREASURER Link Small Business COVID-19 Relief Program
US CHAMBER OF COMMERCE Link Coronavirus Small Business Guide
JPMORGAN CHASE Link Makes $50 Million Philanthropic Investment to Help Address Immediate and Long-Term Impacts of COVID-19
FACEBOOK Link Small Business Grants Program
U.S. DEPARTMENT OF LABOR Link Announces Availability of Up to $100 Million In National Health Emergency Dislocated Worker Grants in Response to COVID-19 Outbreak
ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY Link Coronavirus 2019 (COVID-19) Information for Small Business
SMALL BUSINESS MAJORITY Link COVID-19: Illinois Resources
CITY OF CHICAGO BUSINESS AFFAIRS AND CONSUMER PROTECTION Link Guidance for Businesses and Employers
ILLINOIS DEPARTMENT OF REVENUE Link Short-term relief from tax penalties
SMALL BUSINESS ADMINISTRATION Link  

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

CITY OF CHICAGO Link Mayor Lightfoot announces $100 Million Relief Package for Chicago’s Small Businesses Amid COVID-19 Outbreak
IRS CORONAVIRUS TAX RELIEF Link The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
CITY OF CHICAGO RESILIENCY FUND (APPLICATION NOW OPEN) Link To provide small businesses and non-profits with emergency cash flow during this health crisis.
US CHAMBER OF COMMERCE Link CARES Act – What small businesses need to know
DCEO – COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) Link The programs assists Illinois communities that do not receive a HUD direct entitlement allocation with meeting their greatest economic and community development needs.
US SENATE COMMITTEE ON SMALL BUSINESS & ENTREPRENEURSHIP Link The Small Business Owner’s Guide to the CARES Act
ILLINOIS ADULT-USE CANNABIS SOCIAL EQUITY PROGRAM

 

Link The State of Illinois is committed to ensuring that communities historically impacted by the criminalization of cannabis have an opportunity to participate in the legal cannabis industry. In order to address the impact on those communities, the Act establishes a program for Social Equity Applicants
PAYCHECK PROTECTION PROGRAM (PPP)

APPLICATIONS NOW OPEN

Link An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
MINORITY SUPPLIER DEVELOPMENT AGENCY Link Minority Business and Technology Initiative

 

SheaMoisture HAIR PRODUCTS Link $1M Fund for Women of Color Entrepreneurs
SMALL BUSINESS MAJORITY Link Small Businesses Call on Congress to Bail Out Main Street

 

POTENTIAL VENDOR OPPORTUNITIES
Entity Website Description
PACE Link Information about Pace’s Response to Coronavirus (COVID-19)
METRA Link Metra Coronavirus response
ILLINOIS DEPARTMENT OF HEALTH Link In the COVID-19 event, Illinois is looking for medically trained individuals to join the fight.
DCEO – CALL FOR PPE & NON-PPE ITEMS Link COVID-19: Illinois calls for your support.  Donations and sales.

Chicago

2020-04-07T17:34:13+00:00 Chicago, Cover|