TIER 3 MITIGATIONS
Tier 3 Resurgence Mitigations took effect statewide on November 20, 2020.
Click to view the Summary of Tier 3 Mitigations impacting businesses.
Emergency Resources for Businesses
The Illinois Department of Commerce & Economic Opportunity (DCEO) has compiled a list of emergency resources for small businesses throughout the state. To view the complete list of resources, click here.
Paycheck Protection Program Reopens
The U.S. Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) has re-opened this week for new borrowers and certain existing PPP borrowers. The PPP is a loan designed to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. For more information, including eligibility, loan details, how to apply and more, please visit the SBA website and contact your lender.
- Like previous rounds, payroll, rent, covered mortgage interest, and utilities expenses are eligible for forgiveness
- This round allows expanded list of qualifying expenses, including operations expenses, essential supplier costs, worker protection expenses, including PPE
- Loans up to 2.5 average monthly payroll
- Borrowers with NAICS codes starting with 72 (includes restaurants) can get up to 3.5 times their average monthly payroll costs
Business Interruption Grants awarded
Recipients of the second round of Business Interruption Grants (BIG) have been announced by the State. Nearly 9,000 grants were awarded to over 600 communities throughout Illinois. Note that this round of grants marks the conclusion of the BIG program.
NEW ComEd Small Business Customer Assistance Program
As of December 16, 2020, ComEd is accepting applications for assistance that would be applied to a business’ bill in 2021 if they meet all qualifications. The Small Business Assistance Program provides eligible small business customers with a one-time grant up to $2,000 toward a past due balance. Eligible customers may also place a remaining balance into a payment plan of up to six months.
To apply, call 1-877-426-6331
Click for More Information
Illinois Restaurant Association Restaurant Employee Relief Grant
The Illinois Restaurant Association has opened the Restaurant Employee Relief Fund, a program of the Illinois Restaurant Association Educational Foundation (IRAEF). This fund provides one-time grants of $500 to support restaurant employees facing an unforeseen hardship due to COVID-19. Grants will help to cover basic living expenses such as rent, food and utilities. This fund allows IRAEF to give back to the employees at the heart of the restaurant community. Employees may apply here.
0% Interest LOANS STILL AVAILABLE THROUGH THE VILLAGE OF HOMER GLEN
Partnering to Keep the Lights On
Funding is still available for the Village of Homer Glen COVID-19 Emergency Small Business Assistance Program. Mayor Yukich and the Village Board of Trustees proactively approved loan program for small businesses to Keep the Lights On at their March 25, 2020, meeting. Independently-owned businesses in Homer Glen are eligible to apply. 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.
Click on the link below for the program details and application form.
Contact Economic Development Director Janie Patch at (708) 301-0632 or firstname.lastname@example.org with any questions.