Chamber Members:

Good news to begin the week! Governor Pritzker announced today that regions meeting metrics are still on course for rolling back to Tier 2 mitigations on Friday, the 15.

Following up from the announcement on Friday, this week the PPP application process reopens for those looking to receive funds the first time and also for those who would be going for a second draw. Initially, the lending will come from Community Financial Institutions. No date yet on when the application will be allowed through additional financial institutions. However, late this afternoon the application for both first and second draw were released. More information is below on this item as well as others such as President Impeachment, House Speaker race, CARES Act tax relief, and the Economic Equity Act.

*Daily Coronavirus update brought to you by Silver Cross Hospital

Updated PPP Loan Applications and Process Details
Updated applications have been released for First Draw and Second Draw PPP loans. PPP applications must go through participating PPP lenders, who then route them to the SBA for approval. Per this guidance, the SBA continues to call upon our lending partners to assist eligible borrowers in underserved and disadvantaged communities and address potential barriers to access to capital.

First draw app:

Second draw app:

SBA and Treasury Announce PPP Re-Opening, Issue New Guidance
A reminder from the press release on Friday from the U.S. Small Business Administration (SBA). In consultation with the Treasury Department, the SBA announced that the Paycheck Protection Program (PPP) will re-open this week for new borrowers and certain existing PPP borrowers.

To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.

A Community Financial Institution (CFI) is one of the four types of lenders:

  • Community Financial Development Institution (CDFI)
  • Minority Depository Institution (MDI)
  • Community Development Corporation (CDC)
  • Microlender Intermediary

One SBA resource for businesses hoping to connect with lenders is Lender Match, found at

The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.

The new guidance released includes:

For more information on SBA’s assistance to small businesses, visit or See PDF attachments as well.

Governor Looking at Decoupling of CARES Act Tax Relief
“There are a number of things that I think should be taken up in the lame duck session – which again is relatively brief – but one of them, which not many people have talked about, is a decoupling issue,” Governor Pritzker said. “There’s a tax provision, as a result of the CARES Act passage, that would essentially deprive Illinois of revenues that it otherwise should get.”

Congress passed various forms of stimulus spending and tax relief in the CARES Act to help businesses and individuals deal with these economic challenges. One of those changes was to offer additional tax benefits for businesses that experience losses.

The CARES Act allowed businesses to carry back “net operating loss” deductions up to five years for losses that occur between Dec. 31, 2017, and Jan. 1, 2021. In other words, businesses could receive tax credits today for income tax returns in previous years in which the business was profitable.

The CARES Act also eliminated a cap that previously limited loss deductions to 80% of taxable income, allowing business owners to offset their full tax liability in a given year. Both changes gave businesses additional access to cash to help them survive the pandemic-related downturn.

A press release from the governor’s office on Jan. 8 inaccurately referred to these tax provisions as “corporate tax loopholes” and estimated eliminating them would raise $500 million towards closing the state’s budget deficits. This action would not just be a “technical change.” Illinois already does not conform to the CARES Act provisions on business losses for corporations. Pritzker is proposing limiting the deductions for pass-through entities such as S corporations and partnerships, which tend to be small businesses. The governor also wants $20 million from eliminating smaller business tax credit expansions that were passed in 2019. As of right now, there is no legislation filed yet on this issue. We will continue to monitor and invite any of our members to relay how this would directly impact them as the original intention was to give much needed relief to small businesses hurting from the covid pandemic. We’re not sure who would argue that that situation has changed here in the new year.

Majority Leader Steny Hoyer (D-Md.) told rank-and-file Democrats on a private call Monday afternoon that the impeachment vote will be held on Wednesday. No decision has been made by Pelosi and her team about whether the House should immediately send the impeachment article to the Senate after passage.

This action follows an attempt by Democrats to pass, by unanimous consent, a resolution for Vice President Pence to invoke the 25th Amendment to sideline Trump. Republicans in the House blocked the unanimous consent.

Madigan Announces Campaign for Speaker is Suspended
Michael Madigan today announced he has “suspended” his campaign for a new term as Illinois speaker. But he insisted his effort to retain the job he’s held for decades is not over. In a statement, Madigan said that since he has not yet been able to obtain the 60 votes needed to keep his job, “The House Democratic Caucus can work to find someone else, other than me, to get the 60 votes.” Therefore he has “suspended” his campaign.

However, the statement added: “This is not a withdrawal. . . .As I have said many times in the past, I have always put the best interests of the House Democratic Caucus and our members first.” That appears to be a challenge to someone else to prove they can get the votes.

What’s known for sure is that, after weeks of trying to pull over some of the 19 Democrats who oppose his re-election bid, the speaker last evening watched their number instead grow by three in the first Democratic caucus vote. That left Madigan nine votes short of the majority needed to lock up his re-election.

Rep. Kelly Cassidy, a longtime Madigan critic, is hinting she may now get in the race. Rumors of several other potential entries are circulating, including Reps. Greg Harris, Chris Welch, and Jay Hoffman. None have made a move, at least publicly. They would all join Reps. Stephanie Kifowit and Ann Williams as contenders.

Illinois Economic Equity Act Introduced
Both HB 2685 and HB 5871 contain identical language and are known as the Economic Equity Act. Recently, the Economic Equity Act was divided into four bills. These bills are SB 1480, SB1608, SB 1792, and SB 1980. Currently, each of these are shell bills that are likely to receive substantive amendments by Wednesday.

We’ll be keeping an eye on the specifics as it covers industry licensing requirements, changes to the procurement process, employers’ hiring rights, and burdensome and unworkable environmental permitting processes, amongst other things.

Democrats File Impeachment Article
A trio of House Democrats close to leadership on Monday introduced a single article of impeachment against President Trump, charging him with inciting a mob of his supporters to carry out a violent attack on the Capitol in a bid to overturn Joe Biden’s election victory.

The article, co-authored by Reps. David Cicilline (R-I.), Ted Lieu (Calif.) and Jamie Raskin (Md.), states that Trump engaged in high crimes and misdemeanors by “willfully inciting violence against the Government of the United States.”

Majority Leader Steny Hoyer (D-Md.) told rank-and-file Democrats on a private call Monday afternoon that the impeachment vote will be held on Wednesday.

Program Notices & Reminders
SBA Loans and IRS Tax Implications for Small Businesses
Join representatives from the SBA Illinois District and the IRS for a discussion and presentation of tax treatment for COVID-19 relief programs, including the Economic Injury Disaster Loan, the Paycheck Protection Program, employer tax deferment, and Small Business/Self-Employed incentives with SBA and IRS. This is a tax information webinar and should not be considered as tax advice.
Wednesday, Jan. 13 at 1 p.m.
Register here:

U.S. Chamber Guide to New Pandemic Relief Package
How Do These Changes Impact My Existing PPP Loan? 
I Exhausted My Initial PPP Loan, How Does This Help Me? 
What If I Never Received a PPP Loan? 
Which Changes to Other Programs That May Help My Small Business Have Been Changed? 

Here is the link to the Monday 12/21 update that contained full information on the relief package:

SBDC at JJC Update
21 Topics in 21 Minutes for 2021 Growth
Date: Scheduled one-on-one session
In less than 30 minutes, the Illinois Small Business Development Center at Joliet Junior College will help you prioritize key 2021 business plans whether it is for your people, your product, your marketing, your sales, your money, or the impact of this crisis. In this short, one-on-one exercise, we will help you determine up to three of the biggest opportunities for growth in the year ahead. We will offer no-cost tools to develop your strategy for success in those areas. Email us at and we will send you a link for registration.

Starting Your Business in Illinois
Date: 1/14/21 Time: 9am
Thinking about starting a business in Illinois? This informative workshop helps entrepreneurs understand many of the steps and requirements. In this no-cost overview of Starting Your Business in Illinois, we will touch on many aspects of your business plan, including legal, accounting, banking, marketing, and sales.

Advanced Business Data Research (with Shorewood Library)
January 21st at 6pm
Already familiar with Reference Solutions (formerly Reference USA)? Learn how to utilize this data even more! In this session, learn higher level search techniques, how to use the additional functionality (like the mapping, summary, and chart options), and how to combine searches within modules to get a more in-depth level of data.
Register at:

Government Certification Process (with Rita Haake at COD)
January 28th at 9am
Certifications: Interpreting the alphabet to pursue profits! Which small business certification is the best one for you?
Your options:
• Federal: 8(a), EDWOSB, HUBZone, SDB, SDVOSB, WOSB, VOSB
• Local: DBE, MBE, WBE, VBE
You will learn the details of the application process, documentation requirements, certification options, and how to market and leverage certifications for the growth of your business.
Register at:

Will County Residents Behind on Mortgage or Rent Can Access Funds
Funds are available to those at least one month behind on rent. utility assistance is also available for those who qualify. Renters having difficulty working with their landlords and facing eviction are encouraged to contact Prairie State Legal, another HUD CARES funded program, at (815) 727-5123.

Owners behind on their mortgages are encouraged to work with their mortgage companies on forbearance options. If those options are not available or exhausted, assistance is available for families behind on mortgage payments as well.

The local agencies helping are:

  • Will County Center for Community Concerns, (815) 722-0722
  • Spanish Community Center, (815) 727-3683
  • Catholic Charities, (815) 774-4663
  • Community Service Council, (815) 886-5000

Finally, look for more information to be shared on issues regarding businesses and covid related items such as unemployment insurance rate impact, workers’ comp premium relief, state rules on limited liability, business loss coverage, and tiers & phases. 

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
815.727.5371 main
815.727.5373 direct