Reminder: Get Your Questions on PPP Answered Tomorrow on IRA Webinar
Sign up now to join the IRA, Hinshaw & Culbertson , and the Illinois Bankers Association Thursday, April 9 at 10:00 a.m (Central) for a webinar to review common questions and issues restaurants are facing as they apply for Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL). 

Anthony Jacob, Michael Weis and Timothy Sullivan of Hinshaw, along with Ben Jackson of Illinois Bankers Association, will review the process for applying for relief loans, necessary documentation requirements, and answer frequently asked legal and banking questions for restaurant operators.

Click here to register. Note: if you are viewing on a desktop/laptop, you must click the (Register) link next to "Event Status: Not Started" on the top left side of the page in order to complete your registration.

Please send all questions you would like addressed in advance of the webinar to Matt Quinn .
Treasury Department Defines Eight Week PPP Timeframe

The U.S. Treasury has updated 20 FAQs on the Paycheck Protection Program for borrowers and lenders that address many of the concerns lenders have grappled with during the first few days of the program. A core question facing borrowers is answered below.

Question : The amount of forgiveness of a PPP loan depends on the borrower’s payroll costs over an eight-week period; when does that eight-week period begin?

Answer : The eight-week period begins on the date the lender makes the first disbursement of the PPP loan to the borrower. The lender must make the first disbursement of the loan no later than ten calendar days from the date of loan approval. 

The IRA is working alongside the National Restaurant Association and other stakeholders to change this restrictive provision of PPP.

Click here  to read the questions and answers.
City of Chicago Issues 9:00 p.m. Curfew on All Liquor Sales, Effective Thursday

Mayor Lightfoot has announced a 9:00 p.m. curfew on liquor sales in Chicago, effective Thursday, April 9. Click here to read the industry notice.

Please note that the prohibition on liquor sales after 9:00 p.m. daily applies to all Chicago liquor licensees, including consumption on premises-incidental activity, tavern, and packaged goods licensees.

The Public Health Order 2020-05 requires businesses to post a sign to notify customers of the 9:00 p.m. prohibition on liquor sales. CPD will pass out the signs to as many businesses as possible, but in the event a business does not receive one, the sign can be printed from the BACP website. The link to the printable sign is on the industry notice as well. 

Click here to download the required printable notice.
DOL Implementing Regulations on the Families First Coronavirus Response Act, Paid Sick Leave Law

The recently-enacted Families First Coronavirus Response Act (FFCRA) went into effect on April 1, 2020 and will expire on December 31, 2020. The Act created two temporary leave programs – Emergency Paid Sick Leave (EPSL) and Emergency Family and Medical Leave Expansion (EFMLE) – that require private sector employers with less than 500 employees to provide leave to employees impacted by COVID-19.

Under the Act, covered employers qualify for 100 percent (full costs of both leave programs) reimbursement through refundable tax credits administered by the U.S. Department of the Treasury.

The U.S. Department of Labor through its Wage and Hour Division is responsible for implementing and enforcing the new leave mandates. The Department issued implementing regulations on April 1, 2020, which detail employer and employee obligations, as well as an exemption available to qualifying small employers with fewer than 50 employees.

Click here to read more about the regulations from the National Restaurant Association.

Save the date: the IRA will be hosting a webinar Monday, April 13 at 2:00 p.m. to address unemployment insurance, paid sick leave, employee benefits, and common HR questions for restaurants. Stay tuned for more details.
Please  visit our website  for the latest coronavirus updates, in addition to the above resources and information for your business - updated as of 6:25 p.m. Wednesday, April 8.