Mayor's Business Roundtable
Slides from the September 15 event, with direct links to helpful Business Resources are available here.
Financial Assistance Update
As part of the CARES Act funding, there are two current grant opportunities of note to help offset financial challenges related to COVID-19:
Business Interruption Grants Program (BIG) – NEW! The State DCEO will accept applications for a second Round of grant awards, beginning September 17. Enhanced mitigation regions will receive priority, including Will County. This round will remain open until all of the funds have been used. Click here
Will County Small Business Assistance Grant Program - Will County launched a new $24 million grant program in which eligible businesses can seek grants of up to $15,000. Applications are accepted through September 28. Click here
Payroll Protection Program (PPP) Loan Forgiveness
How do I apply for forgiveness on my PPP loan?
Borrowers should reach out to the lending institutions they used to apply for their PPP Loan. Lending institutions will have their own systems and portals in place to process loan forgiveness applications.
Guidelines are updated regularly by the SBA and can be found: Here
Loan application can be found: Here
For Sole Proprietors and Self-Employed: Here
Village Funding Still Available for the 0% Interest
COVID-19 Small Business Loan Program
Partnering to Keep the Lights On
At the March 25 meeting, Mayor Yukich and the Village Board of Trustees proactively approved COVID-19 financial assistance for small businesses to Keep the Lights On. The Village of Homer Glen COVID-19 Emergency Small Business Assistance Program provides financial assistance to eligible independently-owned businesses in Homer Glen. Up to a $10,000 line of credit is available with loans offered at zero percent (0%) interest. The Village has approved $130,000 of loan assistance to date.
Additional program funding is still available. Click on the link below for the program details and application form. Contact Economic Development Director Janie Patch at (708) 301-0632 or email@example.com with any questions.
COVID-19 BUSINESS RESOURCES UPDATE TO KEEP YOU INFORMED
Get credible information to help your business by visiting the following resources:
GOVERNOR’S COVID WEBSITE: https://coronavirus.illinois.gov/s/
RESTORE ILLINOIS (DCEO WEBSITE): https://dceocovid19resources.com/restore-illinois
The State’s Phase 4 guidelines were effective on June 26.
PHASE 4 GUIDELINES OVERVIEW: https://dceocovid19resources.com/assets/Restore-Illinois/businessguidelines4/phase4overview.pdf
Phase 4 GUIDELINES (DETAILS): https://dceocovid19resources.com/restore-illinois/restore-illinois-phase-4/
Illinois Taxpayer Relief
The Illinois Department of Revenue has established this COVID-19 page to provide information and resources to help Illinois taxpayers, businesses, and others affected by the coronavirus. See also:
- Illinois Income Tax Filing and Payment Extension
- Short-Term Relief from Penalties for Late Sales Tax Payments
Please review this information to assist your employees. The Illinois Department of Employment Security (IDES) recently adopted emergency rules to try to make the unemployment insurance system as responsive to the current situation as possible. IDES has a helpful Unemployment Information page. All unemployment claims should be filed online through the IDES filing page.
- Small Business Owner’s Guide to the CARES Act Passed March 27 -To help small business owners better understand the new programs that will soon be available to them, refer to the comprehensive guide to many of the small business provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress. Several stimulus programs are created including loans for both large and small businesses, stimulus checks for individuals, expanded unemployment insurance for workers, paid family leave, paid sick leave and mortgage/renter relief.
- The Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020 Briefing: Unemployment, Loans & Grants, Tax Benefits.
- Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor - Small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees.
- Door Dash - Eliminating commissions for new restaurant partners that enroll with them during the next 30 days and charging no commission to current partners.
- Uber Eats - Sign up to offer delivery service to customers.