Skip to content

BIG Legislation for Small Businesses

BIG LEGISLATION FOR SMALL BUSINESSES

President Biden has signed The American Rescue Plan Act (H.R 1319) into law.  Accordingly, the State of Illinois is expected to receive $7.549 billion in funds to foster recovery from the COVID-19 pandemic.

A robust coalition of small business advocates are asking that Governor Pritzker and lawmakers allocate 25% of those relief funds to help small and local businesses recover from the pandemic.  The Illinois small business community has been devastated by the COVID-19 pandemic.

 

We strongly urge Governor Pritzker and Illinois lawmakers to:

  • Provide $10,000 grants to small businesses (50 or less employees) with revenue of $100,000 that can demonstrate a 25% reduction in gross revenue between 2019 and 2020.  Businesses in disadvantaged communities will receive an additional $2,500 in funding.
  • Offer small businesses whose revenue did not exceed $100,000 in 2019 with grants totaling 10% of the revenue loss the business sustained between 2019 and 2020.  Businesses in disadvantaged communities will receive an additional 2.5% of lost revenue.
  • Provide $2,500 grants to eligible small businesses which launched in the 3rd and 4th quarter of 2019 and as such, are not able to demonstrate the requisite loss in revenue from 2019 to 2020.  Businesses in disadvantaged communities will receive an additional $500 in funding.
  •  These businesses must meet three out of the following criteria before March of 2020:
    • A website or social media presence
    • Office space
    • Have a business banking account
    • $10,000 in revenue
    • At least one full time Employee

We urge Governor Pritzker and Illinois lawmakers to ensure that businesses that did not receive prior BIG grants have priority over those which did receive said grants.  PPP loans and other such revenue should not be counted as revenue in determining the eligibility of businesses.

 

Endorsed By:

Archives

Hear From our NRC Coalition Partners

By patti@sbacil.org | September 22, 2022

The Small Business Advocacy Council and a coalition of engaged stakeholders have come together to revitalize, empower, and connect commercial corridors in the Chicagoland area. This is a collaborative effort involving grassroots engagement, policy advocacy, and educational initiatives. Our coalition looks to address the vacant property crisis in Cook County, cut red tape that burdens…

Daily Herald Business Ledger Articles with SBAC President Elliot Richardson

By sara@sbacil.org | September 19, 2022

Check out all of SBAC President Elliot Richardson’s Daily Herald Business Ledger articles below 2022 2021 2020 2022 September 18, 2022 Policymakers should prioritize established and new small business August 21, 2022 Defining Small Business Champions by their actions, not their words July 24, 2022 Crucial time for politicians and small business community to collaborate…

August 17th, 2022 – Small Business Workshop – What to ask Before You Open Your Doors

By patti@sbacil.org | August 27, 2022

August 17th, 2022 SBAC Empower, Groupon + the Greater Englewood Chamber Of Commerce present an open Q&A session to answer your questions on starting a business. Opening a business and have a question on business usage, zoning, banking, etc? Already have a business and have questions? Listen in, and our panelists will answer freely. With:…

Scroll To Top