COVID-19 Small Business Weekly Update

Please ensure to focus on yourself, your family and your employees first! You (they) cannot be replaced and safety/health is of most importance right now! Protect yourself, family and employees.

Where can I see more details on Illinois Restore?

Restore Illinois Phase 3 Reopen Guidance View more information.

Restore Illinois is about saving lives and livelihoods. The five-phased plan will reopen our state, guided by health metrics and with distinct business, education, and recreation activities characterizing each phase. View more information.

Quick start guide for employer tools and resources. 

View more information here.

How can I stay current about changes of economic relief programs?

• U.S. SBA federal funding options
• State of Illinois funding options
• Illinois Treasurer funding

Who do I contact regarding loan status?

• U.S. SBA: SBA Disaster Customer Service Center, phone (800) 659-2955 or email disastercustomerservice@sba.gov
• Illinois DCEO Small Business Emergency Fund: email CEO.Support@Illinois.gov
• Illinois Treasurer Small Business COVID-19 Relief Fund: phone (217) 558-6217 or email investinillinois@illinoistreasurer.gov

What is an Essential Business?

The Illinois Department of Commerce & Economic Opportunity has posted Essential Businesses & Operations.

Is my small business eligible for Illinois Tax Relief?

The state is allowing a two-month delay for tens of thousands of businesses to pass along sales tax proceeds. View more information.

Are there funds or loans that I may be eligible to apply? (Some programs have closed due to lack of funding)

• US SBA Disaster Loan (Specific to Civil Unrest)
  New disaster declaration for some locations in Illinois. Homeowners, renters, churches –can apply for these low-interest disaster loans if they were impacted by the civil unrest. Businesses of all sizes and non-profit organizations can apply for low-interest disaster loans to cover uncompensated physical losses; small businesses and most non-profits can also apply for economic injury.
• The Paycheck Protection Program Flexibility Act was signed which makes modification to the original program released a couple of months ago. The bill will provide businesses with more time and flexibility to keep their employees on the payroll and ensure their continued operations as we safely reopen our country. View more information.
• US SBA Paycheck Protection Program (PPP): Direct application to an approved lender. This loan program provides loan forgiveness for retaining employees during COVID-19. View more information.
• SBA Economic Injury Disaster Loan (EIDL) Small businesses are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA's Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. NEW Note: if you applied via document upload you will receive an email from SBA about additional documents required. For first time applications the portal to apply online has been open again on March 30.
• US SBA Express Bridge Loan Pilot Program Business that have a CURRENT relationship with the US SBA & a financial lender (hold a loan previous to COVID-19) View more information.
• Cook County Community Recovery Fund: Rapid relief loans for small businesses, gig workers and independent contractors in South Suburban Cook County. View more information.
• DCEO Fast Track Grants
  $25 million initiative to accelerate funding to help complete critical public infrastructure projects. This program will help ensure planned capital projects move forward in spite of revenue loss facing the entire state, will prioritize projects in underserved communities, and will ensure skilled labor can return to the job site just in time for the summer construction season. View more information.

Are there Grants available? (Some programs have closed due to lack of funding)

Business Interruption Grant (BIG)
The Department of Commerce and Economic Opportunity (DCEO) is launching the first round of Business Interruption Grants (BIG) by providing $60 million to businesses experiencing losses or business interruption as a result of COVID-19 related closures. View information here.

Reinvest DuPage
The program will provide grants of up to $15,000 for DuPage County-based businesses with fewer than 15 full-time employees and less than $1.5 million in annual revenues. Monies received under the program may be used for payroll, rent, mortgage payments, utilities, and other expenses necessary to maintain operations. A 1099 contractor whose annual income is less than $100,000 can also receive relief through the program. View more information.

WorkNet DuPage Grant Program Application: The Department of Commerce & Economic Opportunity has made some funds available for WorkNet DuPage and our counterpart offices throughout Illinois to prevent essential, small businesses from laying off or furloughing employees. View information here.

If I am an employer with less than 500 employees, am I required to give sick pay to my employee when the instance is specific to COVID-19?

Families First Coronavirus Response Act (FFCRA): The answer is yes per the new FFCRA. Please review the Fact Sheet for more information.

Client Liaison: Maryellen Schlosser, schlosserm473@cod.edu

Illinois Procurement Technical Assistance Center (PTAC)

Expansion through governmental contracting with guidance in selling to the local, state or federal markets.

Rita Haake, haaker@cod.edu

Ileen Kelly, kellyi421@cod.edu

Illinois Small Business Development Center (SBDC)

Advisors in business planning, pre-commercialization market assessment, proof of concept, assistance in the areas of management, strategic marketing, finance and operations.

Ute Westphal, westphalu@cod.edu Doug Voegtle, voegtled@cod.edu

Illinois International Trade Center (ITC)

Expert assistance with distributor discovery and vetting, international lead generation global shipping challenges market and competitor analysis, financing options and sales and marketing strategy.

Jean Lin, lini@cod.edu