COVID-19 RESOURCE GUIDE FOR LOCAL BUSINESS OWNERS

COVID-19

RESOURCE GUIDE FOR

LOCAL BUSINESS OWNERS & LEADERS

As your congressional representative, my focus is on supporting families and small businesses

during this crisis and ensuring that you can strive after this storm. Hopefully, the Coronavirus Aid,

Relief, and Economic Security (CARES) Act, passed on March 27, 2020, will offer assistance.

Through the CARES Act, we made major investments in resources for our nation’s small business

owners and employees who are strongly impacted by the COVID-19 pandemic. The CARES Act

allocates over $375 billion for small business support and $260 billion for unemployment.

This guide provides a comprehensive list of resources for you to consider accessing or applying for

during this time. My staff is always here to help you navigate federal agencies and resources. If you

run into any roadblocks, please contact my office at 708-679-0078. As new information is released,

we will post them on our website at: https://robinkelly.house.gov/resources/for-businesses.

Table of Contents

Business Loans & Assistance. p.3

U.S. Small Business Administration –

Economic Injury Disaster Loans (EIDL) &

Payment Protection Program (PPP) p.3

National Resource p.3

State & Local Resources p.5

Bank Assistance Information p.7

Does Your Business Qualify for Assistance p.6

FAQ: Payment Protection Program (PPP) p.9

FAQ: Small Business Administration (SBA)

Economic Injury Disaster Loans (EIDLl) p.11

Unemployment for Individuals and Businesses p.13

Information on Claiming Unemployment p.13

Emergency Paid Leave p.15

Direct Cash Payments to Americans p.16

FAQ: Economic Impact Payment Checks p.16

COVID-19 Resource Guide for Local Business Owners and Leaders

Business Loans & Assistance

U.S. SMALL BUSINESS ADMINISTRATION –

ECONOMIC INJURY DISASTER LOANS (EIDL) &

PAYMENT PROTECTION PROGRAM (PPP)

As of March 19, 2020, the SBA has declared Illinois an eligible disaster area and Economic Injury

Disaster Loans (EIDL) are available. In addition to the loan provisions, the CARES Act provides

$10 billion in immediate disaster grants. Using the current economic injury disaster loan

program, SBA can provide up to $10,000 to applicants within 3 days of applicants self-certifying

they are eligible.

See FAQ on SBA Disaster Loans on page 11.

More information regarding the Economic Injury Disaster Loan program can be found here:

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-

resourcesinformation, please visit: https://www.sba.gov/funding-programs/loans/paycheck-

protection-program.

The Paycheck Protection Program is designed to provide direct incentive for small business to

keep their workers on payroll. Up to 100 percent of the loan is forgivable. The SBA is now

accepting applications for the PPP Loans. You may apply here: https://covid19relief.sba.gov/#/.

For additional information or to obtain help preparing the loan application please contact the

Illinois SBA Offices in Chicago at 312-353-4528 or by visiting their website:

https://www.sba.gov/offices/district/il/chicago.

See FAQ on PPP Loans on Page 9.

NATIONAL RESOURCES:

The U.S. Chamber of Commerce has information on resources and ways individuals, or

businesses, can seek assistance. For more information, please visit:

https://www.uschamber.com/coronavirus or contact: 1-800-638-6582.

COVID-19 Resource Guide for Local Business Owners and Leaders

The U.S. Chamber of Commerce has a small business resource guide that features technology

tools, employer guidance, business strategies and more as you navigate through this challenging

time. For more information, please visit: https://www.uschamber.com/co/small-business-

coronavirus.

The National Main Street program has resources for small business and offers community

support for those impacted by COVID-19. For more information, please visit:

https://www.mainstreet.org/howwecanhelp/resourcecenter/covid19resources or contact 312-

610-5613.

COVID-19 Resource Guide for Local Business Owners and Leaders

STATE AND LOCAL RESOURCES:

The Illinois Small Business Emergency Loan Fund was established to offer small businesses

located outside of the City of Chicago with low interest loans of up to $50,000. Successful

applicants will owe nothing for six months and will then begin making fixed payments at a

below market interest rate for the remainder of a five-year loan term.

Illinois Department of Commerce and Economic Opportunity (DCEO) is partnering with Accion

Serving Illinois and Indiana to provide access to the Small Business Emergency Loan Fund in

your area. You can initiate an application with Accion at https://us.accion.org/get-a-

loan/chicago-prequal/.

For assistance with additional questions, please email [email protected].

The Chicago Small Business Resiliency Fund provides $100 million to small businesses and non-

profits with emergency cash flow during the COVID-19 crisis. Funds will be provided to eligible

businesses as low-interest loans up to $50,000.

All loan applications will be administered through lending partners, including Accion Serving

Illinois and Indiana and the Community Reinvestment Fund, USA (CRF). You may apply here:

Chicago Small Business Resiliency Fund Application

The Downstate Small Business Stabilization Program has been established to provide small

businesses in downstate and rural counties across Illinois, DCEO is repurposing $20 million in

CDBG funds to stand up the Downstate Small Business Stabilization Program. This Fund will

offer small businesses with up to 50 employees the opportunity to partner with their local

governments to obtain grants of up to $25,000 in working capital. These grants will be offered

on a rolling basis.

Communities can learn more about the Notice of Funding Opportunity (NOFO) and eligibility

requirements: Downstate Small Business Stabilization Program Requirements

The Illinois Restaurant Association offers COVID-19 support, videos, tax information and other

useful tools to navigate business plans. Please visit:

www.illinoisrestaurants.org/page/COVID19Resources.

COVID-19 Resource Guide for Local Business Owners and Leaders

The Illinois Hotel & Lodging Association (IHLA) offers COVID-19 support, videos, tax information

and other useful tools to navigate business plans. Please visit: https://www.illinoishotels.org.

Illinois Small Business Development Centers (SBDC) can also provide resources, webinars, and

FAQs for small businesses impacted by COVID-19. For more information and to find SBDC’s in

your area, please visit: http://ienconnect.com/directoryhttp://ienconnect.com/directory.

COVID-19 Resource Guide for Local Business Owners and Leaders

BANK ASSISTANCE INFORMATION

Several Banks have set-up contact lines to work with individuals impacted by COVID-19. If a

bank is not listed below, reach-out to them to find out what they are doing to assist those

affected by COVID-19. The Federal Deposit Insurance Corporation (FDIC) and the (National

Credit Union Administration (NCUA) have also put out information for bankers and consumers.

FDIC: https://www.fdic.gov/coronavirus/index.html NCUA: https://www.ncua.gov/

Other banks assisting during COVID-19:

• Bank of America: https://about.bankofamerica.com/promo/assistance/latest-updates-

frombank-of-america-coronavirus

• Capitol One: https://www.capitalone.com/coronavirus/

• Chase: https://www.chase.com/digital/resources/coronavirus

• CitiBank: https://online.citi.com/US/JRS/pands/detail.do?ID=covid19

• Discover: https://www.discover.com/coronavirus/

• Fifth Third Bank: https://www.53.com/content/fifth-third/en/alerts/covid-support.html

• Marcus by Goldman Sachs: 844-627-2876

• PNC: https://www.pnc.com/en/customer-service/coronavirus-update.html

• TCF Bank: https://www.tcfbank.com/about-tcf/covid19

• US Bank: https://www.usbank.com/splash/covid-19.html

• Wells Fargo: https://newsroom.wf.com/press-release/corporate-social-responsibility/wellsfargo-

donates-625-million-aid-coronavirus.

COVID-19 Resource Guide for Local Business Owners and Leaders

DOES YOUR BUSINESS QUALIFY FOR ASSISTANCE?

The U.S. Senate Committee on Small Business and Entrepreneurship has created a comprehensive guide to

provide information about the major programs and initiatives that will soon be available from the Small

Business Administration (SBA) to address these needs, as well as some additional tax provisions that are

outside the scope of SBA. It includes information on eligibility, what types of loans are available and are best

for your business, as well as other frequently asked questions. The guide can be found here: Small Business

Owner’s Guide.

In order to better understand which type of funding is best for you, the Committee on Small Business has

also created a flow chart to determine eligibility, application process, and funding need for the Paycheck

Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL). You can find the chart here: PPP VS

EIDL Flow Chart

The U.S. Chamber of Commerce developed a step-by-step outline to help small businesses navigate the

Paycheck Protection Program. The guide includes information on eligibility, how much businesses can

borrow, loan forgiveness and more. The guide can be found here: COVID-19 Emergency Loans Guide and

Checklist.

The Illinois Small Business Emergency Loan Fund was established to offer small businesses located outside

of the City of Chicago with low interest loans of up to $50,000. Successful applicants will owe nothing for six

months and will then begin making fixed payments at a below market interest rate for the remainder of a

five-year loan term.

Illinois Department of Commerce and Economic Opportunity (DCEO) is partnering with Accion Serving

Illinois and Indiana to provide access to the Small Business Emergency Loan Fund in your area. You can

initiate an application with Accion at https://us.accion.org/get-a-loan/chicago-prequal/.

For assistance with additional questions, please email [email protected].

The Chicago Small Business Resiliency Fund provides $100 million to small businesses and non-profits with

emergency cash flow during the COVID-19 crisis. Funds will be provided to eligible businesses as low-interest

loans up to $50,000.

All loan applications will be administered through lending partners, including Accion Serving Illinois and

Indiana and the Community Reinvestment Fund, USA (CRF). You may apply here: Chicago Small Business

Resiliency Fund Application .

COVID-19 Resource Guide for Local Business Owners and Leaders

FAQ: PAYMENT PROTECTION PROGRAM

What is this program?

The CARES Act establishes this new guaranteed loan program at SBA for small businesses to

cover payroll during the immediate crisis. The Paycheck Protection Program would: support

$349 billion in 100 percent guaranteed, low interest, no fee loans of up to $10 million with

repayment deferred for at least six months; and forgivable up to 100% of the loan if the

borrower has retained the same number of employees as when they received the loan, and

used at least 75% of the loan for payroll expenses.

Who is eligible?

Small and Medium sized businesses up to 500 employees, non-profits, independent contractors

and the self-employed. Churches and nonprofits are included.

What about franchises and hotels?

The program temporarily waives SBA “affiliation rules” to allow businesses with multiple

locations that normally are not considered small, to qualify. This is especially important for

our restaurant and lodging sector. They are still limited to the same maximum loan size - $10

million - as a business with one location.

How are loans made?

The SBA’s network of 2,500 7(a) lenders will be used to process these loans. There is also

authority to fast track additional lenders to process and disburse these loans to reach as many

small businesses as quickly as possible.

Are these grants?

Yes and No. The amount of the loan forgiven at the end of the year will be determined by how

many employees were retained on the company’s payroll, up to 100 percent for full retention.

There are safeguards built in to protect against employers gaming the program, as well as

recognizing some employers will be forced to do temporary furloughs but bring their

employees back on.

COVID-19 Resource Guide for Local Business Owners and Leaders

What is covered?

This bill allows firms to get a loan to cover up to 2.5 months of payroll and any new EIDL loan

balances incurred because of Coronavirus but cannot exceed $10 million.

How long does the program last?

The program is open until June 30, 2020, as it is intended for immediate payroll relief to ensure

businesses do not do mass layoffs during this crisis.

COVID-19 Resource Guide for Local Business Owners and Leaders

FAQ: SMALL BUSINESS ADMINISTRATION (SBA) ECONOMIC INJURY DISASTER LOANS

(EIDL)

What are Economic Injury Disaster Loans (EIDL)?

The Small Business Administration (SBA) is providing low-interest loans to small businesses

and nonprofits in Illinois that have been severely impacted by the Coronavirus (COVID-19).

The program provides small businesses with working capital loans of up to $2 million that can

provide vital economic support to small businesses to help overcome the temporary loss of

revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts

payable and other bills that cannot be paid because of the disaster’s impact. The interest rate is

3.75% for small businesses and 2.75% for non-profits. The maximum term is 30 years.

Who is eligible?

A small business is defined by the SBA’s size standards and is based on the North American

Industrial Classification (NAIC) System. More information can be found here:

https://www.sba.gov/document/support--table-size-standards.

How long does this process take?

While approval timeline depends on volume and is subject to change, the typical time frame

for adjudication is 2-3 weeks and disbursement can take up to five days once approved.

Borrowers are assigned individual loan officers for servicing of the loan.

Where can I find more information?

Businesses may contact the SBA Disaster Customer Service Center at 1-800-659-2955 or e-mail

them at [email protected]. Additionally, they may reach-out to the SBA Illinois

District Office by calling 312-353-4528 or by visiting:

https://www.sba.gov/offices/district/il/chicago.

A broader overview of this program may be found here: HERE.

COVID-19 Resource Guide for Local Business Owners and Leaders

You may reach out to the Chatham Business Association Small Business Development Inc.,

Monday through Friday from 10am – 3pm by calling 773-994-5006.

Are there any additional resources to help me complete my application?

COVID-19 Resource Guide for Local Business Owners and Leaders

Those with last names beginning with the letters A-M will be asked to file their claims on

Sundays, Tuesdays, or Thursdays.

Those with last names beginning with letter N-Z will be asked to file their claims on

Mondays, Wednesdays, or Fridays.

Saturdays will be available for anyone to accommodate those who could not file during

their allotted window.

Those with last name beginning with letters A-M will be asked to call on Tuesdays and

Thursdays between 7:30am – 6pm.

Those with last names beginning with letter N-Z will be asked to call on Mondays and

Wednesdays between 7:30am – 6pm.

Fridays (7:30am – 6pm) will be available for anyone to accommodate those who could not

file during their allotted window.

FAQ COVID-19 and Unemployment Benefits

Federal Stimulus and Unemployment FAQ

Unemployment For Individuals and Businesses

INFORMATION ON CLAIMING UNEMPLOYMENT

The Illinois Department of Employment Security (IDES) is assisting those applying for

unemployment benefits. For guidelines on when to apply, applicable forms, FAQ’s for

employees and employers, and more, please visit the IDES website or call 1-800-244-5631.

Please note: Website load times will be slow due to increased inquiries. Click a link once and, if

necessary, wait for the response without clicking again.

In order to process the extremely high volume of unemployment benefit claims due to COVID-

19m(?) IDES has implemented the following schedule for those filing claims online and by

phone:

Online Filing Schedule:

Call Center Filing Schedule: 312-338-4337

IDES recently adopted emergency rules to try tom make the unemployment insurance system

responsive to the COVID-19 pandemic. Below are FAQs regarding unemployment benefits.

COVID-19 Resource Guide for Local Business Owners and Leaders

As of March 30, 2020 - Under the Pandemic Unemployment Assistance provision,

unemployment benefits have been extended to self-employed workers, 1099-independent

contractors, gig workers and low-wage workers, temporary or seasonal workers, and workers

who have just started or were about to start a job. The Illinois Department of Employment

Security (IDES) will provide additional guidance regarding eligibility and application details in

the coming days as it implements these new programs.

COVID-19 Resource Guide for Local Business Owners and Leaders

EMERGENCY PAID LEAVE

Many workers in America currently have no paid leave and are being forced to choose

between their paycheck, their health, and the health of the people around them. The

emergency paid leave provisions passed by Congress and signed into law by the President are a

critical step toward protecting families’ financial security and mitigating the spread of the

coronavirus.

Below is information on eligibility for emergency paid sick leave and paid family leave.

Committee on Education and Labor Fact Sheet: Eligibility for Emergency Paid Sick Leave

U.S. Department of Labor Fact Sheet for Employers

U.S. Department of Labor Questions and Answers

U.S. Department of Labor poster for Federal Workers and one for all other employees

Treasury, IRS & Department of Labor press release to recover the costs for providing

coronavirus related leave.

Paid Sick and Family Leave Tax Credit: Employers who provide required leave to their

employees and who employ less than 500 employees are eligible for a tax credit to offset the

costs of such leave. This tax relief will be provided against quarterly payroll taxes (those paid

in connection the Form 941). For additional guidance, please refer to the IRS's website.

COVID-19 Resource Guide for Local Business Owners and Leaders

Direct Cash Payments To Americans

The IRS has established a special website focused on steps to help taxpayers, businesses and

others affected by the coronavirus. This page will be updated as new information is available.

As of March 31, 2020, there is no information available on the timeline for the economic

impact payment checks. Information will be released in the coming days. The IRS requests that

individuals do not call but check their website for updates. For information on tax help, FAQ’s

during COVID-19, and updates on economic impact payment checks, please visit:

https://www.irs.gov/coronavirus.

FAQ: ECONOMIC IMPACT PAYMENT CHECKS

Who qualifies to receive a check and how much will an individual receive?

Anyone who filed a tax return this year or last year. Individuals receive up to $1,200, married

couples receive up to $2,400, and child dependents (under 17) receive $500.

What are qualified income levels based off of?

There is no qualified income threshold or requirement to receive the rebate. However, the

rebate phases out at a 5 percent rate above adjusted gross incomes of $75,000 for single filers,

$112,500 for heads of household, and $150,000 for joint filers.

COVID-19 Resource Guide for Local Business Owners and Leaders

Can those collecting Social Security or disability receive a check?

Yes, if they filed a tax return this year or last year or received a form SSA-1099.

Will SSA administer the funds to my EBT/Debit card that I receive my SSA benefits through?

The IRS will be sending out the rebates (via direct deposit or checks).

How does an individual claim their check?

They do not need to claim their checks (unless they have not either filed a tax return this year

or last year) – the IRS will send out rebates automatically to their direct deposit or to the

address provided on the last tax return submitted.

COVID-19 Resource Guide for Local Business Owners and Leaders

How long will it take for this check to be delivered?

Rebates sent via direct deposit will take a few weeks. Rebates sent via checks may take a few

months.

Will I be taxed on this check?

No. Rebates are not taxable.

Will I be taxed on this check?

No. Rebates are not taxable.

Will I be eligible if I haven’t finished filing my 2018 taxes?

You need to have filed either a 2018 tax return or a 2019 tax return. If you have not filed either,

you will not be eligible. You can file a 2019 tax return now to claim the rebate.

I withdrew my retirement in 2018 – so my income that year was inflated. Is there any waiver

for one-time sources of income?

In this case, the taxpayer should file a 2019 tax return.

COVID-19 Resource Guide for Local Business Owners and Leaders