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Noteworthy News
An electronic newsletter for Tinley Park businesses
July 28, 2020

PPP helps retain nearly 10,000 jobs
Nearly 900 Tinley Park businesses recently received more than $71 million in funding from the Small Business Administration's (SBA) Paycheck Protection Program. As a result, Tinley Park businesses retained nearly 10,000 jobs. Loan amounts ranged from as little as $945 to as much as $5 million.

The SBA will fully forgive the loan if funds are used for payroll costs, interest on mortgages, rent and utilities. At least 60% of the forgiven amount must have been used for payroll. Even if you are the only employee on payroll, you may be eligible. Here are some highlights of the program:

  • PPP loans have an interest rate of 1%.
  • Loans issued prior to June 5 have a maturity of two years. Loans issued after June 5 have a maturity of five years.
  • Loan payments will be deferred for six months.
  • No collateral or personal guarantees are required.
  • Neither the government nor lenders will charge small businesses any fees.

If you have not yet applied, the application deadline has been extended to August 8. Visit the SBA website for more information or to learn about other programs such as the Economic Injury Disaster Loan, Express Bridge Loans and SBA debt relief. You can also contact Business Development Manager Priscilla Cordero for assistance.
DCEO to host Veteran webinar July 30
The Illinois Department of Commerce and Economic Opportunity (DCEO) will host a webinar about the Veterans Business Program at 2 p.m. Thursday, July 30.

The seminar will be hosted by Joe McKeown and Manny Lopez from the Office of Regional Economic Development and Matt Simpson from the Office of Minority Economic Empowerment. Irma Lopez from the Department of Central Management Services will also discuss how veteran-owned businesses can gain access to State contracting opportunities and participate in the competitive procurement process.

Register online to participate in the webinar.
Businesses urged to encourage mask use
All Tinley Park businesses are encouraged to have employees and customers wear face coverings and maintain safe social distancing so that Tinley Park doesn't move backward into a more restrictive phase of the State's Restore Illinois plan.

The State recently increased the number of reopening regions from four to 11 based on the Illinois Department of Public Health's (IDPH) Emergency Medical Services regions. Chicago is now its own region, and the collar counties have been split up to more accurately reflect regional dynamics. Read the plan for more information.
80th Avenue Metra station vendor needed
80th ave
The Village of Tinley Park is requesting qualifications from commercial business owners interested in operating an approximately 800-square foot café within the 80th Avenue Metra train station, located just east of 80th Avenue along the Metra Rock Island commuter rail line.

The 5,400-square-foot brick station features a clock tower, a full kitchen, a great hall with a 25-foot-high ceiling, a covered drop-off area and veranda, interior booth seating, two restrooms and a fireplace.

The selected vendor will have direct access to the entire station, including the great hall. The Village is seeking a high-quality retail or service firm with an excellent operating record whose use of the train station will, in addition to serving the more than 2,400 daily Metra commuters, create a destination for residents and visitors during off-peak train station hours.

Respondents are encouraged to submit plans they believe will be in the best interest of Metra riders and the Village. The Village also encourages creative plans envisioning a variety of café services.

For more information, please visit the Village's Open Bids and Contracts page.
Village of Tinley Park
16250 S. Oak Park Avenue Tinley Park, IL 60477
(708) 444-5000
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