New Support Opportunity Illinois Bridge Loans/ Small Business COVID-19 Relief Program offers an investment of $250 million to community banks to give them greater ability to provide loans at ‘near-zero rates’. These funds were recently made available and can serve as a bridge loan to the Small Business Association loans. As we mentioned in prior briefs, SBAContinue reading
Is your business considered “essential” under Governor Pritzker’s Executive Order? NACC has received many calls from members regarding whether their business is considered essential under Governor Pritzker’s Executive Order issued last Friday (3.20.20). We recognize that the definition is quite broad. Read further using our resource below and/ or inquire with the Department of CommerceContinue reading
This just in… Governor Pritzker has issued a stay-at-home order for the State of Illinois starting at 5:00 p.m. (CST) tomorrow, Saturday, March 21st thru Tuesday, April 7th. You may review the Governor’s Executive Order here for a comprehensive list of essential businesses that are allowed to remain open. It’s 5 O’clock Somewhere The Illinois Liquor ControlContinue reading
Federal Assistance Approved H.R. 6201, the Families First Coronavirus Response Act passed the Senate and President Trump signed it into law yesterday (March 18th). This bill provides, among other things, provisions to address Paid Sick Leave, Paid Family and Medical Leave, and Unemployment Insurance for displaced workers. In addition, it contains provisions for diagnostic testing for Coronavirus andContinue reading
Federal Assistance for Small Business & Not-For-Profits The Small Business Administration has authorized low-interest disaster loans for small businesses and non-profits (excludes religious organizations). You are eligible for up to two million dollars for working capital (which includes fixed debt, payroll, etc.) at an interest rate of 3.75% for businesses and 2.75% for non-profit agencies. Continue reading
LOCAL UPDATES City Council will meet tonight with an emergency meeting following. We will provide an update tomorrow following that meeting. The 5th Avenue Workshop scheduled for April 6 has been postponed. To clarify, Governor Pritzker’s Executive Order for Bars and Restaurants to close as of 9:00 pm last night allows for delivery, drive-thru, curb-side pick-up, and carry-out/ take-out. Take-out is definedContinue reading
Thank you for wanting to still patronize our local restaurants and eateries! Your gesture is business saving. We have compiled a list of restaurants that have adapted to our current events by adjusting their service style to best serve you, and keep their business operating. Keep in mind, hours may vary and we recommend callingContinue reading
We have identified some simple measures you can take to support local businesses in this difficult time. Your gesture, your patronage, and your decision to support them – could be the difference between keeping their doors open or closing.
CDC Mitigation Framework: Communities, Schools, Workplaces, and Events (Guidelines to help in safely reopening) Collins Law Firm: Insurance for Business Interruption US Chamber of Commerce CARES Act FAQ Sheet Our goal at the NACC is to always be your business resource. And, we have entered a new and relatively uncharted territory regarding the discovery of COVID-19. ThisContinue reading
Everyone loves free right? I recently read an article about how many billionaires gain and keep their fortunes off of remaining frugal. Case in point, Mark Zuckerberg shopping for wholesale bargains at Costco. We know that you have chosen to make the investment in your organization by joining the NACC. For some businesses, it isContinue reading
