Small Business Disaster Loans and
Grants - Apply Now!
Housing Grants
April Street Sweeping
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Dear Neighbors,
Street Sweeping Will Commence, but Will Not Be Posted Due to Stay at Home Order
We are working with the Commissioner of Streets and Sanitation to get the streets in the 43rd Ward cleaned, but no sign postings will be done. We have asked for as much residential street cleaning as possible in the interim to help remove winter and landscape debris from sewers. In the sweeping days listed in the schedule below, please try to move vehicles parked around sewers or in heavy areas. We will have the sweeper clean as tightly as possible to the curbs. We understand there are many people who cannot come out to move vehicles so please do what you can to help clean your own block.
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Federal Disaster Loan Assistance
Apply NOW
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. There are several kinds of loans and grants available. Because funds are limited, it is important to file as soon as possible. If you have a banker today, call them to make an appointment. However, you can apply online NOW for the EIDL loan below.
Economic Injury Disaster Loan Program - The Small Business Administration (SBA) is providing federal disaster loans to businesses of less than 500 employees, non-profits, sole proprietorships, independent contractors, and faith based organizations. Apply NOW at
the SBA’s website. NOTE: you must have all information available with you when you apply. You CANNOT save an unfinished application.
Here is what you need:
- Basic business information – name, EIN, address, business type
- Basic financial information – Gross revenues for the 12 month period prior to 1/31/20
- Basic ownership information
- Organization Type - Look at the your most recent entity tax return.
- Trade Name - Use your DBA (Doing Business As) name, or if you don't have a DBA, use the Business Legal Name
- Business Activity/Detailed Business Activity - Scroll down. For example, “Dental” as a detailed business activity after choosing “Health Services”
- Gross Revenues for last year - This is your gross collections for the period 2/1/19 – 1/31/20. You can obtain this information from your business management software. If unavailable, use the number from your 2019 tax return. If your business tax return has been completed, you can find this listed on Line 1a Gross Receipts or Sales.
- If your business tax return has not yet been completed for 2019, you can refer to your December 31, 2019 financial statements for “Gross Collections”
- Cost of Goods Sold (COGS) for last year - If you do not report COGS on your business tax return (like in some service businesses), you can enter “$0” in this field.
Paycheck Protection Program, provides 100% federally guaranteed loans to small businesses. Under the program:
- Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
- Loan payments will be deferred for six months.
- If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
The administration will release more details soon but in the meantime, see if you are eligible and find out needed paperwork by visiting the
US Chamber of Commerce website.
SBA 7(a) Loans - These are the typical SBA loans. Under the CAREs Act,
- The SBA will pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
- The SBA will pay the principal and interest of current 7(a) loans for a period of six months.
There are many helpful resources, and I strongly suggest that every business download these guides.
If you do not submit all the information requested, your loan cannot be fully processed
.
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City of Chicago
Small Business Resiliency Fund
TODAY, March 31
12 p.m., and 2 p.m.
Webinar
The City's Small Business Resiliency Fund will provide loans to businesses with less than $3 million in gross revenues with fewer than 50 employees. Applications will be open TODAY - watch our newsletter for the announcement.
Meanwhile, at Noon
Today,
Business Affairs and Consumer Protection (BACP) will host FREE webinars regarding the Small Business Resiliency Fund
.TODAY
3/31 at 10 a.m., 12 p.m., and 2 p.m.(in Polish).
Click here
to register.
You can also click
this page
for information required for the loan application.
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State of Illinois
Emergency Small Business Grants and Loans Assistance
Deadline Wednesday, April 1 at 5 p.m.
Apply Now!
The Illinois Department of Commerce & Economic Opportunity (DCEO) is working with the nonprofit Accion to launch the Hospitality Emergency Grant Program (HEGP), offering $14 million in assistance for bars and restaurants that had less than $1 million in gross revenue and hotels with less than $8 million in revenues in 2019.
Please visit
this website for more information and to apply. Businesses can apply
here.
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Housing Assistance Grant Program
Mayor Lightfoot and
Department of Housing (DOH) announced the creation of a COVID-19 Housing Assistance Grant program to assist Chicagoans who have lost their jobs or have been impacted by the economic fallout from the COVID-19 pandemic. In partnership with the
Family Independence Initiative (FII), DOH will deploy $2 million from the Affordable Housing Opportunity Fund (AHOF) to fund one-time grants to help lower income Chicagoans with rent and mortgage paymen
ts.
The fund will award 2,000 individual grants in the amount of $1,000. The grants will be awarded through a lottery. For more details and to apply,
click here.
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The Greater Chicago Food Depository
Providing Assistance
The Greater Chicago Food Depository can help anyone in need of emergency or supplemental food assistance in Cook County. If you are ready to apply or if you have a few questions, please call the Public Benefits Outreach Team at 773-843-5416, or visit
Greater Chicago Food Bank for more details. They can assist you with applying for SNAP benefits as well.
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Apple COVID19 Screening Tool
Apple has launched an at-home screening tool if you think you are experiencing signs of Coronavirus. This tool can help you understand what to do next about COVID19. Visit the
COVID-19 Screening Tool for details.
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Nursing and Medical Volunteers Needed
The Chicago Medical Corps needs nursing and medical providers and other non-medical volunteers to volunteer to help protect Chicago during the COVID-19 public health emergency. Find more information and sign up at
www.illinoishelps.net
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COVID-19 PPE Donations Request
Governor Pritzker announced a new website to donate personal protective equipment (PPE) to the medical community. Please visit
this website for information and a list of items needed. All equipment must be in the manufacturer's original packaging. To find out other ways to help during COVID19 visit
www.serve.illinois.gov.
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Vanille
Chicago Strong
Vanille Pâtisserie is delivering meals to the Loyola University Medical Center Emergency Room during the COVID19 health crisis. To sponsor a meal visit
Vanille Chicago Strong website to help this cause.
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Chicago History Museum
at Home Initiative
The Chicago History Museum will launch an at-home initiative starting next week. The Education team will be sharing free, family-friendly activities every weekday. These history challenges are easy to do and use everyday household items. You can get your child started independently or you can explore together. Visit the
Chicago History Museum website to learn more and to donate.
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John Prine
Singer/songwriter John Prine has been one of the most important figures to emerge from the Old Town School of Folk Music.
John is now ill and
hospitalized with COVID-19. Joan Baez, the preeminent singer of the folk generation, recently played one Prine's most famous songs, "Hello In There" in his honor. Prine's song,
Paradise, is an important song of the environmental movement. (I listened to the
John Denver version).
If you'd like to hear Stud Terkel's 1975 interview with Prine, presented by the Chicago History Museum, click
here. To learn the history of the Old Town School of Folk Music, click
here.
If you'd like to help the staff and faculty of the Old Town School of Folk Music, join their
fundraiser.
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Thank You, Chicago History Museum
With a short surplus and growing need for personal protective gear for the medical community, Gary Johnson, President of the Chicago History Museum provided swift and immediate relief. In just 72 hours, Gary was able to secure much needed gear to Stroger Hospital of Cook County.
The museum uses nitrile gloves, N95 masks and other protective gear everyday to protect museum artifacts from damage, oils on hands and to protect oneself from ancient artifact conservation treatments and materials. You can read more
in this great story from Classic Chicago Magazine..
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Coronavirus Resources
:
The Doctor Is In: Ask Dr. Arwady.
Live-stream by Chicago Health Commissioner Allison Arwady, M.D., daily at 11:00 am on
Twitter and
Facebook Live.
State of Illinois
Centers of Disease Control and Prevention (CDC)
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