Chamber Members:
Welcome to Phase 4. We made it! Please make sure that you are following all new and existing guidelines. Here is a link to the information that has been released following the approval of our phase 4 advancement: https://dceocovid19resources.com/restore-illinois/restore-illinois-phase-4/
Today’s update will focus mainly on reminders of several programs and upcoming video conferences. Enjoy your weekend.
Don’t Forget about SBA COVID-19 relief options available
If your business has been affected by COVID-19, make sure you’re aware of the key differences in resources still available to your organization
- Paycheck Protection Program: Loans made by private lenders that are forgivable if proceeds are spent on payroll and other designated uses within 24 weeks. The last day for lenders to submit applications to the SBA is Tuesday, June 30!
- Economic Injury Disaster Loans: Working capital loans made by the SBA that can be used, generally, to pay expenses that a business owner would have been able to pay, were it not for the disaster. These are not grants and must be repaid.
- Economic Injury Disaster Loan Advance: A grant worth up to $10,000 that comes from the SBA that does not have to be repaid and can be accepted even if a business owner’s disaster loan application is denied. The amount of your EIDL Advance, determined by the number of employees you have, will be deducted when applying for PPP forgiveness.
Business Interruption Grants
Today was the opening of this first round of funding through the State of Illinois and the Department of Commerce & Economic Opportunity. If you own a restaurant, bar, salon, barbershop, gym, or fitness center then you are eligible right away to apply. Those businesses outside of these categories then need to determine if they fit the criteria based upon location. The DCEO web site outlines the additional information for qualification.
A few things to note – DCEO has said there will be additional funding rounds. Also, the initial application process is open through July 7 and it is a lottery system. So, there is time to fill this out and not have to worry about first come, first serve. Lastly, the Zip Codes of areas affected by looting was updated this morning and now DOES include several Joliet area zip codes which makes a number of our members potentially eligible for this grant. Make sure you reevaluate this opportunity!
Here is the web page with the information and application:
https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/C19DisadvantagedBusGrants.aspx
Illinois Minimum Wage
We are making sure that all are reminded of the increase in minimum wage this upcoming Wednesday, July 1. The minimum will now be $10 an hour until January 1, 2021 when it then increases again to $11.
Monday Video Conference with SBA
For a last minute course on PPP funding or to get refreshed on the EIDL funds and forgivable Advance grant, the SBA is offering a “COVID-19 Resources for Small Businesses” webinar, hosted with the Illinois Department of Commerce and Economic Opportunity, on Monday, June 29, 11 a.m. Register here: https://www.eventbrite.com/e/covid-19-resources-for-small-businesses-tickets-110859090524?utm_medium=email&utm_source=govdelivery
Property Owner Lawsuit
A group of property owners has sued to overturn Governor Pritzker’s order temporarily banning residential evictions amid the COVID-19 pandemic. In an action filed in Will County Circuit Court, members of the Illinois Property Owners Association, which primarily represents suburban and downstate landlords, assert that the order “essentially ties the hands of housing providers to enforce our lease agreements.”
Governor Pritzker initially banned evictions early this spring when the pandemic first hit. He repeatedly has extended the ban with new orders, the most recent of which runs through July, saying many tenants cannot pay because they have lost their jobs. Pritzker has suggested that the current order will be the last, serving as a “transition” to a new program beginning August 1 in which the state will offer $150 million in grants of up to $5,000 to tenants who need help paying the landlord.
Finally, we thank Interim Will County Executive Denise Winfrey, Will County Clerk Lauren Staley-Ferry, and Census Engagement Coordinator Quinn Adamowski for their time and information on our Will County Update virtual conference today. The recording can be found on our COVID-19 resource page – https://jolietchamber.com/2020/03/covid-19/
Next week, the Illinois Department of Commerce and Economic Opportunity will be hosting a webinar on Monday and all of our members are invited to participate. The webinar will begin at 1:00 PM. This is the perfect opportunity to have all of your questions answered about the next phase and eligibility for the Business Interruption Grant. You can register here: https://illinois.webex.com/mw3300/mywebex/default.do?nomenu=true&siteurl=illinois&service=6&rnd=0.6277236860367384&main_url=https%3A%2F%2Fillinois.webex.com%2Fec3300%2Feventcenter%2Fevent%2FeventAction.do%3FtheAction%3Ddetail%26%26%26EMK%3D4832534b000000049587cdea4c0f83af8f7a4e6c690b308e63894712f4d50288fd3873231740adfe%26siteurl%3Dillinois%26confViewID%3D164943984359153733%26encryptTicket%3DSDJTSwAAAARRE6SL26HnZN17NeCmkWAtO2K8nqwiM_g-f8UEqoDTYg2%26
Stay well,
Joliet Region Chamber of Commerce & Industry Staff and Board of Directors
Mike Paone
Vice President – Government Affairs
Joliet Region Chamber of Commerce & Industry
mpaone@jolietchamber.com
815.727.5371 main
815.727.5373 direct
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