U.S. Chamber of Commerce Return to Work Plan Just Released
We have been on several calls recently to learn effective strategies to “reopen” our economy. The U.S. Chamber just released yesterday a national return to work plan exploring the extreme complexities to consider and how to best protect employees and our communities while not exposing our employers to undue liability.
Health screening would be required in the strategies but what types of screening, who pays for the screening, and who would provide necessary training, etc. must be a part of the discussions.
One strategy under consideration is a staggered work schedule minimizing density in public transportation and office spaces. However, questions arise around if mass transits offer more runs to reduce density, who pays for the additional costs? Likewise, staggered workdays would require childcare centers to operate at varying hours to accommodate the employees staggered work weeks, thus creating more cost for daycare centers. Other discussions around ways of reducing density include a reduced capacity for restaurants and movie theaters, for example. This could result in these businesses losing significant revenue even though they are open for business. The discussions around returning to work or a new business normal are diverse and more are yet to come.
Illinois Small Business Emergency Loan Resources
There are two loan programs offered by the State of Illinois – the Illinois Small Business Emergency Loan Fund and the Illinois Bridge Loan/ Small Business COVID-19 Relief Program.
Illinois Small Business Emergency Loan Fund
The DCEO and the Illinois Department of Financial and Professional Regulation (IDFPR) are offering small businesses low-interest loans of up to $50,000. Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 can apply. Successful applicants will owe nothing for six months and will then begin making fixed payments at a below-market interest rate for the remainder of a five-year loan term. Click Here for more details. Click Here to apply.
IL Bridge Loan/ Small Business COVID-19 Relief Program
Through this program, the Illinois Treasurer’s Office partnered with approved financial institutions to provide loans (either lower rate loans, loans to a business, or to a not-for-profit that would not otherwise qualify) for Illinois small businesses impacted by the COVID-19 pandemic. Click Here for more information.
Click Here for more information and to register.
Learn more about these two programs through a NACC webinar on April 24 at 9:00 am sponsored by Representative Grant Wehrli. There will be presenters from both loan programs discussing the terms, how to apply, and more as well as offering ample time for Q&A. This is a complimentary event, but registration is required to get login information.
Stay tuned for regular updates and do not hesitate to reach out for additional details or resources about the information provided in today’s brief.
Reba Osborne, Director of Government Affairs