Federal Legislation CARES ACT has Passed The Coronavirus Aid, Relief, and Economic Security (CARES) Act, is officially passed and was minimally changed in the U.S. House before its passage this morning. You can review the revised summary of the CARES ACT by the U.S. Chamber of Commerce here The most significant support for small businessesContinue reading
Long- Awaited Federal Legislation Passes Senate The U.S. Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, yesterday. CARES is awaiting U.S. House approval which is expected tomorrow (3/27/20) A key intent of this legislation is to help businesses stay open and keep their employees working. There is extensive support for a wideContinue reading
Breaking News: Illinois Department of Commerce and Economic Opportunity Offering Support Hospitality Emergency Grant Program To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, the Illinois Department of Commerce and Economic Opportunity (DCEO) is launching the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for jobContinue reading
COVID-19 is placing significant pressure on Edward-Elmhurst Health’s ability to keep stock of personal protective equipment (PPE) appropriate to the role and the risk of front line staff. They have placed a call for donations of PPE, and if they are not able to use donated items – they will be connecting those goods toContinue reading
New Support Opportunity Illinois Bridge Loans/ Small Business COVID-19 Relief Program offers an investment of $250 million to community banks to give them greater ability to provide loans at ‘near-zero rates’. These funds were recently made available and can serve as a bridge loan to the Small Business Association loans. As we mentioned in prior briefs, SBAContinue reading
Is your business considered “essential” under Governor Pritzker’s Executive Order? NACC has received many calls from members regarding whether their business is considered essential under Governor Pritzker’s Executive Order issued last Friday (3.20.20). We recognize that the definition is quite broad. Read further using our resource below and/ or inquire with the Department of CommerceContinue reading
This just in… Governor Pritzker has issued a stay-at-home order for the State of Illinois starting at 5:00 p.m. (CST) tomorrow, Saturday, March 21st thru Tuesday, April 7th. You may review the Governor’s Executive Order here for a comprehensive list of essential businesses that are allowed to remain open. It’s 5 O’clock Somewhere The Illinois Liquor ControlContinue reading
Federal Assistance Approved H.R. 6201, the Families First Coronavirus Response Act passed the Senate and President Trump signed it into law yesterday (March 18th). This bill provides, among other things, provisions to address Paid Sick Leave, Paid Family and Medical Leave, and Unemployment Insurance for displaced workers. In addition, it contains provisions for diagnostic testing for Coronavirus andContinue reading
Federal Assistance for Small Business & Not-For-Profits The Small Business Administration has authorized low-interest disaster loans for small businesses and non-profits (excludes religious organizations). You are eligible for up to two million dollars for working capital (which includes fixed debt, payroll, etc.) at an interest rate of 3.75% for businesses and 2.75% for non-profit agencies. Continue reading
LOCAL UPDATES City Council will meet tonight with an emergency meeting following. We will provide an update tomorrow following that meeting. The 5th Avenue Workshop scheduled for April 6 has been postponed. To clarify, Governor Pritzker’s Executive Order for Bars and Restaurants to close as of 9:00 pm last night allows for delivery, drive-thru, curb-side pick-up, and carry-out/ take-out. Take-out is definedContinue reading
