We continue to assemble resources and information for the business community regarding COVID-19. As you all recognize, we are in a very fluid situation with information changing daily, and sometimes twice daily. We will do our best to provide you the most up-to-date and accurate information possible. Please visit www.gpcovid.com for a complete list of business resources and send any questions to bizinfo@greaterpeoriaedc.org .

Central Illinois Disaster Recovery Fund

The Community Foundation of Central Illinois is serving as the home for monetary donations to help individuals, organizations and businesses recover from this economic crisis. Learn more and donate here .

SBA Loans

This afternoon Illinois received its economic disaster declaration from the Small Business Administration (SBA) which will open participation in the Economic Injury Disaster Loan program. Unlike prior designations, this covers businesses in any county in the state. This program will offer low-interest loans up to $2 million to small businesses impacted by the crisis. The loans are made directly by SBA not banks. High level information can be found here . More details will be forthcoming. Bradley University’s Small Business Development Center will be a key local point of information once the program begins.

Sales Tax Deferral for Bars and Restaurants

Gov. Pritzker has directed the Illinois Department of Revenue (IDOR) to defer sales tax payments for small- and medium-sized bars and restaurants. Under the directive, eating and drinking establishments that incurred less than $75,000 in sales tax liabilities last year will not be charged penalties or interest on payments due in March, April or May made late. The Department of Revenue estimates this will give relief to nearly 80% of bars and restaurants in Illinois. Penalties and interest will be automatically waived; however, qualified taxpayers must still file their sales tax return even if they are unable to make a payment. Any taxpayers taking advantage of this relief will be required to pay their sales tax liabilities due in March, April and May in four installments starting on May 20 and extending through August 20. For more information, please view IDOR’s informational bulletin available at tax.illinois.gov.

Families First Act

President Trump signed the Families First Act, a second bill aimed at aiding economic hardship for business and employees. The main thrusts of the bill are to (1) expand the Family and Medical Leave Act and (2) create the Emergency Paid Sick Leave Act. National HR consulting firm Greensfelder has a summary of the Act here . The St. Louis law firm Ogletree Deakins has put together a matrix summary here .

Small Business Resources

The Illinois Department of Commerce and Economic Opportunity (DCEO) is compiling resources and information for small businesses here . DCEO is still seeking information from businesses regarding the impact the crisis is having on operations and revenue. Complete their survey here .

Illinois Manufacturing Helpline 

The Illinois Manufacturing Excellence Center, headquartered at Bradley University, has established a virtual helpline for manufacturing businesses here .

Guidance for Closed Food Service Operations

The Illinois Department of Public Health has provided guidance for re-opening bars and restaurants that have been closed during the state ban here .