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PPP Deadline Extended To May 31st

President Biden Signs PPP Extention Act

Attention Small Business Owners: President Biden just signed the PPP Extension Act of 2021 which extends the Paycheck Protection Program an additional two months until May 31st. The Act also provides an additional 30-days for the SBA to process pending applications.

Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, states: “More than 8.2 million PPP loans have provided struggling small businesses with the relief they need to keep workers employed and make ends meets during this pandemic. The SBA remains dedicated to reaching the heart and soul of the nation’s urban, rural, and low-income communities – the smallest businesses – and removing barriers to access this vital relief.” 

You now have until May 31st to apply for your first or second round of PPP funding. For more information, see the SBA’s full release here.

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Are Illinois politicians supporting small businesses?

By patti@sbacil.org | June 15, 2021

Illinois politicians have completed their spring legislative session. The Democrats, who hold a supermajority in both legislative chambers, proclaim their budget supports the small business community. That budget allocates $300 million for the Back to Business grant program, presumably to be awarded to small businesses struggling to recover from the pandemic. The budget also includes…

Elliot Richardson’s interview with Lauren Cohn on “Connected to Chicago”

By mrevis@sbacil.org | June 7, 2021

The mayor wants to eliminate red tape for small businesses to help with reopening. Small Business Advisory Council President and Co-Founder Elliot Richardson joins Connected to Chicago” to discuss what can be done.   Please translate this page to the language of your choice. Supporters Fifth Third Bank Saul Ewing Arnstein Lehr Inland Bank Ntiva…

SBAC President: Chicago Politicians Must Choose Small Business Over Politics

By mrevis@sbacil.org | June 4, 2021

SBAC President Elliot Richardson writes in Crain’s Chicago Business that Chicago politicians must choose small businesses over politics and cut needless red tape now.                 Please translate this page to the language of your choice. Supporters Fifth Third Bank Saul Ewing Arnstein Lehr Inland Bank Ntiva Daily Herald…

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