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COVID-19

Below is information with trusted sites and links for current valuable information on COVID-19 that apply to business as well as individuals.

We will update this page as we receive new information.

Updated April 7, 2020
This was just posted today from the Illinois Department of Employment Securities. The direct link to the IDES document Federal-Stimulus-FAQ
How will this affect Illinois unemployment benefits?  
For weeks of unemployment beginning March 29, 2020, and ending July 31, 2020, individuals receiving unemployment benefits will receive $600 more than they would receive in their weekly  benefit amount. In many cases, individuals will also be eligible for more weeks of unemployment above the 26 weeks provided under regular unemployment rules. Both of these benefits will be applied automatically if you qualify.

April 6, 2020
COVID-19 Response Grant – Organizations are invited to apply for DeKalb County COVID-19 Response Grants. This process is for distributing grants that address preparedness, response, recovery, and/or rebuilding efforts. Grant requests will be due by Wednesday, April 8 at noon. The DeKalb County COVID-19 Response Fund (DCCRF), a component pass through fund within  DeKalb County. Community Foundation (DCCF), was created in collaboration with various local funding partners. The Fund’s purpose is to be a depository for contributions intended to respond to the effects of COVID-19 in DeKalb County by distributing grants that address preparedness, response, recovery, and/or rebuilding efforts. Click here for  Grant_Guidelines and here for  an Application

April 4, 2020
Sycamore and Genoa businesses may apply for the Downstate Small Business Stabilization. It has been established to provide working capital funds to community’s businesses economically impacted by the COVID-19 virus.  For a list of Downstate Small Business Stabilization Program FAQs.

The program component makes funds available for 60 days of verifiable working capital up to a grant ceiling of $25,000 and is available for businesses that employ 50 people or less.  Number of employees includes the business owner(s).  These funds may be used to assist private for-profit small retail and service businesses, or businesses considered non-essential by the Governor’s Executive Order without the ability for employees to work remotely.  Click here for details.

April 3, 2020
~ Please see the Paycheck Protection Program Guidance (PPP Memo from DCEO 040220) that we received from the Illinois Small Business Development Center at Waubonsee Community College this morning.

~ The banks listed below are our members that have informed us that they are SBA Approved Lenders. Please contact one of them for more information on the CARES Act/Paycheck Protection Program.
Resource Bank — visit resourcebank.com or call 815-756-6321, or call a local branch bank number.

First National Bank — visit FNBO for details

First Midwest Bank — visit First Midwest Bank for details.

First State Bank — visit First State Bank for details

Heartland Bank and Trust Co — visit Heartland Bank  for details. 

~ Paycheck Protection Program Application

April 2, 2020
~ A spreadsheet that compares SBA Coronavirus Pandemic Disaster Loans  click here.

~ A guide to SBA’s Economic Injury Disaster Loans

~ U.S. Dept. of Treasury re: payroll tax credits: Employment Retention Credit 

 

March 31, 2020
~ What you need to know about the IRS Economic Impact Payments: Click on link below:
Update:https://www.irs.gov/newsroom/economic-impact-payments

March 30, 2020

National list of COVID-19 Relief Resources for SMBs 

~ The SBA Disaster Loan application is now back to an online application form, and they have significantly streamlined the application. You can now also request an advance. If you haven’t already submitted an application, you can do it here: https://covid19relief.sba.gov/#/

~ SBA lenders are getting set up to handle applications for the Paycheck Protection Program. We have reached out to our local banks and am waiting to hear back to  see if they are taking applications.

~ Here are a few FAQ links that we have found helpful:
US Chamber

Small Business Committee

US Senate Committee on Small Business and Entrepreneurship

~ The City of Sycamore is extending payment dates for hotel/motel taxes, along with several other taxes and licenses, for 60 days to provide some relief to all of our businesses. Please visit the City’s website for updated information regarding COVID-19.

MARCH 28, 2020
Our elected representatives came together in a powerful way to provide the much needed relief that American workers and businesses need and deserve during this unprecedented time.  Please click here for the loan guide provided by the US Chamber:  USChamber Small Business ELA Loan Guide

MARCH 26, 2020
Hospitality Emergency Grant Program

To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, they Illinois Department of Commerce and Economic Opportunity (DCEO) launched the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes. Grant funds are available to support working capital like payroll and rent, as well as job training, retraining, and technology to support shifts in operations, like increased pick-up and delivery.

Hotels and food and beverage businesses can fill out the grant application between March 25th and April 1st. The grants sizes are $10,000, $25,000, or $50,000 and grant winners will be notified on April 4th.

Apply now: https://us.accion.org/news/covid-19-hospitality-business-grant-program/?fbclid=IwAR1eYlUfaIHiUvv2Bm3PoquIBgKpzDUifyppbQqjoChNLjlPoRXXqseQO18


State of Illinois Treasurer Office – COVID-19 Relief Program

MARCH 26, 2020

COVID-19 Stimulus passed in the Senate last night. Phase_3_Bipart_Summary_-_Revised

Continue to check links below as they will also be updated on a regular basis.

SBA Offers Disaster Assistance to Illinois Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA Schedule-Of-Liabilities–2202

 

MARCH 24, 2020
We are currently working with a team of business, municipal, community, and university leaders from throughout the county, DeKalb County UNITES.  This grassroots movement focuses on helping small businesses remain viable during this period of mandated restrictions and economic uncertainty.

We have formed Action Teams to address specific areas of challenge and opportunity for small business:

  • A marketing/communications team is working to aggregate, amplify and add to the many excellent communications underway from area Chambers of Commerce, DeKalb County Economic Development Corporation, the DeKalb County Convention & Visitors Bureau, and many other area organizations.
  • Local restaurateurs are looking at ways to help connect their capacities with the needs of the essential businesses that continue to operate.   We will work with restaurateurs to assist in any way possible to keep restaurants afloat, restaurant workers employed and essential employees fed.
  • Understanding the needs and capabilities of the larger small business community during this period will be an essential element of our work.   With an inventory of small business capabilities, an action team will reach out to larger businesses and institutions to determine how they might direct their purchasing power to smaller, more vulnerable businesses.
  • While small businesses try to figure out how to move forward in this new environment, they continue to worry about their people, their payroll, cash flow, debt obligations, taxes and other elements of running their businesses.  A financial resources action team will help small businesses navigate financial support that is available to them.

Like everything related to this pandemic, our work is rapidly evolving.  As needs become apparent in the community, the team will reassess and develop new strategies for helping small businesses.  More information is available online at www.dekalbcountyunites.com

 

MARCH 23, 2020
From the City of Sycamore -please visit the City’s website for updated information regarding COVID-19.

LIQUOR LICENSE UPDATE

Class B and C liquor license holders (Bars and Clubs) are permitted to sell packaged liquor for off premises consumption in accordance with the City Code. Any Class A liquor license holder (Restaurant) wishing to be temporarily allowed to sell packaged liquor for off premises consumption during the COVID-19 pandemic crisis should contact the City at 815-895-4853 for permission.

RESTAURANT & BAR TAX PAYMENT EXTENSION
The City is planning to extend restaurant and bar tax payments for at least 60 days to provide some assistance to impacted businesses. As more information becomes available it will be distributed or please check the City’s website for periodic updates.

We are continuing to explore ways we can provide some level of assistance or relief to our business community.

 

March 22, 2020
SBA ECONOMIC INJURY DISASTER LOANS –

Three_Step_Process_SBA_Disaster_Loans

 

MARCH 20, 2020 –  SBA low-interest disaster loans now available

All Illinois small businesses (according to SBA’s size standards) and private non-profits can now apply for loans of up to $2 million through the U.S. Small Business Administration’s Economic Injury Disaster Loan Program. If your business has been affected by the coronavirus pandemic, this program offers working capital to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves. Interest rates are 3.75% for small businesses and 2.75% for non-profits. Apply now at https://disasterloan.sba.gov/ela/.

If you have questions, the Illinois District Office is hosting twice daily webinars on the Economic Injury Disaster Loan program Friday, March . Businesses and other stakeholders can register for these  trainings at www.sba.gov/il. These trainings will cover:

  • Program eligibility
  • Use of proceeds
  • Terms
  • Filing requirements
  • Additional small business resources

Additional Resources

  • Information for small businesses affected by coronavirus at sba.gov/coronavirus
  • Follow @SBA_Illinois on Twitter.
  • Subscribe to email updates at ly/SubscribeIL to stay up to date on SBA news and events.
  • SBA resource partners (Illinois Small Business Development Centers, WBDC, SCORE, Veterans Business Outreach Center) stand ready to help. Go to sba.gov/local-assistance to find a counselor or mentor.

You can also email Illinois.do@sba.gov or call (312) 353-4528 (Chicago office) or 217-(217) 747-8249 (Springfield office) to talk to a Small Business Administration team member directly.

MARCH 19, 2020

MARCH 17, 2020

~ Wednesday, March 17, the Senate passed H.R. 6201, the Families First Coronavirus Response Act.  This bill provides, among other things, provisions to address Paid Sick Leave, Paid Family and Medical Leave, and Unemployment Insurance for workers displaced by the ongoing outbreak.  Furthermore, it includes provisions to provide diagnostic testing for coronavirus, and bolsters Medicaid and nutrition programs for at risk populations.  Click here to see the U.S. Chamber’s summary.

MARCH 16, 2020

We will keep you informed and to assist in the ways you need most.

Please let us know if there is anything specific you require and we will do our best to get you the information, resources, or contacts that will help you the most. Contact us via phone 815-895-3456 or email at rtreml@sycamorechamber.com

Stay healthy and keep us in mind as your network, your resource, and your advocate.

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