Hi LSRCC members and local businesses,

The COVID-19 pandemic has prompted significant policy changes at all levels. We're here to catch you up and support business in Lincoln Square and Ravenswood.  Please see our COVOD-19 Business Resources  website for a comprehensive list of resources to aid your business during this time.
CITY OF CHICAGO
Mayor Lightfoot Announcement
 
This evening, Mayor Lightfoot unveiled a Small Business Resiliency Loan Fund totaling $100 million. We currently have the press release and will upload the application to our resources page when it is available. Mayor Lightfoot also announced an extension in collection of the following city taxes: 
  • Water bottle tax
  • Checkout bag tax
  • Amusement tax
  • Hotel tax
  • Restaurant tax
  • Parking tax
This extension will last until April 30th. 
 
BACP Limits In-Person Visits
 
The Chicago Department of Business Affairs and Consumer Protection (BACP) will be closed to the public until further notice. If you need to apply for or renew a business license, BACP is processing these applications online or over the phone. Please visit www.chicagobusinessdirect.org or call 312-74-GOBIZ. 
 
 
 While the state legislature has temporary suspended session, Governor Pritzker has been issuing executive orders to address COVID-19. 
 
STATE OF ILLINOIS
State and City Sales Tax Relief
 
Governor Pritzker announced a 2 month delay in sales tax payment (both state and local) for small restaurants and bars in Illinois. The state is also waiving late and interest fees beginning tomorrow, 3/20/20. If this is an executive order, it will be uploaded to the state's coronavirus response website.

The Illinois Department of Revenue (IDOR) also recently published a guide on these tax measures.

Unemployment Insurance 
 
The Illinois Department of Employment Security (IDES) is allowing workers who are unemployed due to COVID-19 to apply for unemployment. The application must be completed online as the offices are currently closed to the public . IDES is also available by phone at (800) 244-5631.
FEDERAL GOVERNMENT
Families First Coronavirus Response Act
 
Our national government recently passed and signed this 2nd piece of legislation to address COVID-19. The Department of Labor will be creating a notice in the next 7 days to summarize the requirements, with implementation in 15 days. Ahead of this notice, the basic requirements for businesses with less than 500 employees will be:  
  • Two weeks sick time for all employees at their normal rate.
  • Up to 12 weeks emergency family leave for all employees of at least 1 month whose minor child had school or childcare services suspended due to COVID-19. The first 10 days are unpaid, and the remaining are at 2/3 the employee's normal rate.
  • Businesses will receive tax credits from a portion of the payroll tax to cover the required costs of this policy
  • Independent contractors can take tax credits to fund their own paid leave
Businesses with less than 50 employees may receive a waiver if these requirements would not allow the business to continue.  
 
Existing state and private paid leave policies count towards these federal requirements on a dollar-for-dollar basis. Please see the following links for further reading:
 

 

SBA Loans
 
The Small Business Administration is providing economic injury disaster loans for small businesses impacted by COVID-19.  
   
 
 
 
Feedback 
The following agencies have published questionnaires to solicit feedback from small business owners. Taking the time to respond will let them know where to focus their efforts when creating new policies for economic relief.  
 
 
We're also available and invested in your success. For further questions or individualized assistance, please email Jerry Mandujano, Neighborhood Services Director, at jerry@lincolnsquare.org
 
 
Thank you! 
 
Two Neighborhoods.  One Community.  Working Together.
2611 W Lawrence Ave, Chicago, IL 60625 - 773.728.3890