COMBATING COVID-19

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Restore IL - Phase 4 is Here!

On Friday June 26, the State of IL entered Phase 4 of the Restore IL Plan.  Businesses are now able to reopen further, implement new safety guidelines, and bring employees back to work.  The State of Illinois has developed business toolkits complete with signage, training checklists, and other resources to ensure operations are conducted in accordance with the latest and greatest public health recommendations.  All Phase 3 and 4 guidance can be found here. See an overview of the Phase 4 changes here.

Business Reopening Guidelines/ Self-Certify as COVID-19 Compliant
Business can obtain guidelines and best practices to reopen and operate for each phase of the Restore IL Plan.  Restore HOI is a regional effort with guidance developed by state and local health officials with the goal of promoting a safe and healthy reopening of the region. To learn more and self-certify your business as COVID-19 compliant visit the Restore HOI website here.

Business Response Tool Launched (GPEDC & TADA)
Business seeking opportunities to start or grow their business can sign up to receive assistance.  Go to the portal here, answer a set of questions, and you will be connected to a local economic development “case manager” who can guide you to a suite of resources tailored to your needs.  All data remains confidential. Thanks to the GPEDC and TADA for creating the business resource platform.

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Business Notices & Discussions

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Restaurants

Restaurants! Update Your Listings!
If you want consumers to find your restaurant, please register or update your lists on all your on-line directories (Facebook, LinkedIn, yellow pages, etc.).  Make sure you provide updated information on hours, drive-up, delivery, and curb-side service.  Below are a few platforms to list your business and instructions:

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Loans

City of Peoria - Business Recovery Loan Program (Ongoing)
A new loan program was launched September of 2020 for business adversely impacted by COVID-19. The loan will provide accessible, affordable, flexible, and attractive loans with the following features:

• Low interest - (as low as 0%)
• Long Term Repayment Plan - (up to 30 yrs)
• Deferred Payments - (up to 12 months)
• Convertible Terms - (change terms to meet changing conditions)

You can download a list of required documents here.

Paycheck Protection Program - (Loan w/ Forgiveness - New Round)
Another round of The Paycheck Protection Program (PPP) is available. It starts as a loan and converts into a grant.  You can borrow 250% of your monthly payroll and have all or a good portion of the loan forgiven, amounting to 8 weeks of payroll, rent, and utility payments of post loan.  Whatever balance remains, if any, will be result in 2-year, 1% loan with deferred loan payments from 6 to 12 months. You can download a sample and get more detailed information here.

• Contact your existing bank, or Find an approved SBA lender here. 
• Get more information on PPP here. 
• Prepare an application here and submit through your bank. 

SBA Economic Injury Disaster Loan (New Round)
The SBA’s Economic Injury Disaster Loans offer loans up to $2 million, 3.75%, 30 year loan terms to small businesses to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. A grant advance, up to $10,000 can be requested and will not have to be paid back. To help businesses navigate the EIDL Program:

• Begin by contacting Bradley’s SBDC here. 
• You can apply for both the Loan and Grant here. 

Small Business Guides - Fed and State
Two comprehensive guides on programs and initiatives available for Businesses Combating COVID-19. You can download the guides below:

To help businesses navigate the Paycheck Protection Program:

SBA Debt Relief Fund (6 mo. relief payments)
The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months, and also new 7(a), 504, and microloans issued prior to September 27, 2020. More information on Debt relief and deferment can be found here.

Illinois Small Business Emergency Loan Fund
Small businesses with fewer than 50 workers and less than $3 million in revenue in 2019 can apply for a low-interest, working capital loan up to $50,000 over 5 years, with no payments the first 6 months. Loan funds must be used for working capital, and at least 50% of loans proceeds must be applied toward payroll or other eligible compensation. Businesses will be able have a loan decision and disbursement of funds within 12 days of submitting bank information.  This program is being administered through Accion.

To help businesses navigate the SB Emergency Loan:

LISC Rapid Relief and Resiliency Fund (Expired)
LISC has partnered with State Farm on a $10MM loan fund to provide low-cost loans to Central Illinois small businesses impacted by the COVID-19 pandemic. The program allows LISC to make loans from $75,000 to $500,000 to small businesses, similar to banks, but with more flexible credit standards to reach businesses that might not qualify for conventional bank financing.  More information here.  To apply, please complete this questionnaire, a critical step in determining eligibility for the program: https://www.surveymonkey.com/r/LISCStateFarm. Applicants must have operated over 3 years and have generated at least $150,000 in sales, as presented in flyer below:

Local Sources for Debt Financing
The City and its partners have a variety of “gap financing” loans to compliment private bank financing. Please download the Financing Matrix below for more information:

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Grants

Grants (free money) come in many shapes and sizes, and the goal is to apply for those grants that move your business forward. Below are resources to help research available grants, help prepare you to be “grant ready”, and also details on key grants.

City of Peoria - Business Recovery Grant Program (Deadline - 01/18/21)
A new loan program was launched September of 2020 for business adversely impacted by COVID-19. The loan will provide accessible, affordable, flexible, and attractive loans with the following features:

Paycheck Protection Program - (w/ Forgiveness - New Round)
The program starts as a loan and converts into a grant. After two months from loan disbursement, your banker will validate the forgivable amount equal to two months of payroll, rent, and utilities. Prepare an application here and submit through your bank.

SBA Economic Injury Disaster Loan Advance Grant (New Round)
When applying for the EIDL and waiting for approval, you can request an “Advance Grant” up to $10,000, and the SBA within three days will make a determination on the “advance” based on number of employees and sales. Advanced Funds doe not have to be paid back, even if decide not to take the loan. You can apply for both the Forgivable Grant here.

LISC Small Business Relief Grant (Expired)
Another round of LISC’s Small Business Relief fund recently opened. Businesses can receive grants between $5,000 and $20,000 to pay for rent and utilities, payroll, outstanding debt and other immediate operational expenses. Priority given to entrepreneurs of color, women- and veteran-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital. More information here. Applications are due 10:59 pm C.T. on Monday, Sep 7.

Ameren Illinois – Economic Hardship Recovery Grant
Ameren Illinois announced that funding is available for small businesses and nonprofits that have fallen behind on their electric bills. Under the company’s COVID-19 Economic Hardship Recovery Program, one-time grants of up to $500 will be provided on a first-come, first-served basis until June 30, or until the funds are exhausted.  To be considered, businesses must have an active, non-residential account, 50 or fewer full-time employees, and a principal office in Illinois. More information here. 

GoFundMe’s Small Business Relief Fund
Receive a $500 grant through GoFundMe has partnered with Yelp and Intuit QuickBooks to help small business owners keep their businesses thriving throughout the coronavirus pandemic. Through the Small Business Relief Fund, qualifying businesses that have raised at least $500 on GoFundMe can receive a matching $500 grant. To find out if you’re eligible and learn about the process, read the Small Business Initiative FAQs.

Emergency Grants for Hispanic Business Owners
Up to $10,000 of emergency grants are available for Hispanic business owners impacted by the coronavirus. All applicants will receive access to resources and ongoing support from the Hello Alice community. Application support is offered in Spanish. More information here.

Private grants for women business owners (11 resources) here.

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Other Programs

A growing number of companies are offering their online tools, classes, and resources at no cost in response to the impact on small-business owners from the coronavirus.  Inc. is curating and continuously updating here.

Employee Retention Credit
The Treasury Department and the Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll.  The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. More information from the Treasury Department here and information from the US Senate Committee of Finance here.

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Nonprofit Resources

IL Humanities COVID-19 Grants (Due June 15)
Illinois Humanities are offering another opportunity for nonprofit humanities-oriented organizations throughout the IL state to apply for Covid-19 Emergency Relief Grants.  Applications are being accepted until Friday, May 15.  Information is available on here.

Central Illinois Disaster Recovery Fund (Expired)
Managed by the Community Foundation of Central Illinois, the Central Illinois Disaster Recovery Fund will provide flexible financial support to nonprofit partners within the CFCI service area.  Grants will then be made to community-based organizations directly supporting local residents and families. The first cycle closed April 29, 2020 2nd round may be announced..  Organizations may apply for up to $5,000 here.  

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Employment/Unemployment

Information for Job Seekers and Companies Hiring
This portal blends IDES and DCEO resources to provide a one-stop-shop for both job seekers and employers – providing information on job opportunities as well as unemployment resources. The portal is designed to be user-friendly for job seekers of all levels and backgrounds and allows employers to upload jobs, virtual career fairs and training opportunities. Please check this out whether you are a job seeker or an employer. Residents and employers may access Get Hired at www.illinois.gov/gethired

Filing for Unemployment
With IDES physical offices being closed, unemployed workers have two options for filing for unemployment: call 1-800-244-5631 or visit https://www2.illinois.gov/ides.

Illinois Unemployment Fact Sheet
IDES has published a summary of expanded unemployment benefits here. 

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Business Resources, Guides, and FAQ’s

CRISIS TO OPPORTUNITY - STRATEGIES & TACTICS
To find what you can do to turn Crisis into Opportunity go to our Strategies & Tactics Now! page. You can find great ideas to turnaround your business in areas of: Business Strategy, Marketing, Finance, Retail, and Restaurants here.

LET’S GO DIGITAL
Businesses looking to adapt and advance their business can learn to build their presense, engage customers, and integrate new technologies by going to our GO DIGITAL NOW! page here.

CARES Act Summary
This is a good summary of the CARES Act for Self Employed, Small Businesses, and Everyone Else here.

Commercial Leases under COVID
Dealing with existing leases and renegotiating the terms under the COVID-19 crisis doesn’t have to be complex.  The Washington Prime Group, owners of Northwoods Mall, in partnership with the University of Chicago have provided a free, quick, and easy template here to relieve pressure on small businesses, and help landlords retain paying tenants. The template allows for rent deferral and/or abatement until the tenant gets back on their feet.  Workshops are also being provided through the “Open for Small Business Initiative” here.

State of IL - FAQ’s
There are a batch of FAQ’s specifically for Stay at Home Order, Education, Food Service, Health Care, and the Unemployed here.

Internal Revenue Service - FAQ’s
Tax Credits and other Tax reporting is available here.

City of Peoria - Liquor Licenses
The City has prepared a FAQ for existing and new liquor license holders here.

Peoria Area Chamber of Commerce
PACOC has assembled business resources here. Also included is an interactive map showing restuarants providing curb-side, delivery, and drive-up services.

Peoria Area Convention & Visitors Bureau
The PACVB provides the latest information on Hotel & Event Updates here.

Resources for Artist
Arts Partners of Central IL has curated over 25 grant and loan opportunities for artists here.

Child Care Assistance
Employees in “essential businesses” (i.e. health care, manufacturing, grocery, etc.) can find more information about emergency daycare services here. 

Guidance for Faith Based Organizations
Faith-based organizations are eligible to receive loans - both PPP and EIDL Read the FAQ here.

Guidance for Plumbing Professionals
Guidance here for plumbing professionals.

Illinois Manufacturers Association FAQ
IMA has put together an FAQ on COVID related business issues here.  While geared towards manufacturing, it is relevant for all types of business operations.

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Donate/Volunteer Opportunities

Donate:  The Community Foundation of Central Illinois will channel monetary donations for the Central Illinois Disaster Recovery Fund.  You can donate here.

Volunteer: The Heart of Illinois United Way has created a dedicated portal to organize volunteer opportunities in response to the COVID-19 health crisis.  The portal can be viewed here.  

Public Health Information

Local: Link to either the the City or County’s website and go to the COVID-19 banner link here This fact sheet and will be updated regularly.

211: The Heart of Illinois United Way 211 (http://211hoi.org/) has information on COVID-19. In addition to the website, citizens can call 211 or 309.999.4029 for information.

STATE:  Illinois Department of Public Health’s COVID-19 website is coronavirus.illinois.gov.

FEDERAL:  The CDC website is https://www.cdc.gov/coronavirus/2019-ncov/index.html