Supporting Struggling Small Businesses
The pandemic and Covid-19 mitigations began inflicting immense damage to many small businesses in March of 2020. Thousands of small businesses initially applied for Illinois Business Interruption Grants. While these grants helped some small businesses, approximately 80% of eligible small businesses which applied were not awarded a grant.
Subsequently, Illinois received over 8 billion dollars in American Rescue Plan Act funds. However, only $250 million were allocated for Back to Business grant program. These funds will likely be exhausted before many struggling and eligible businesses receive grants.
Illinois still has billions of federal funds and should replenish the Back to Business grant program with an additional $300 million. Our policymakers should not pick winners and loses when there is adequate funding to support the struggling small businesses.
House Bill HB5489 will allocate an additional $300 million for the Back to Business grant program. Please ask your legislators to support this legislation so that struggling small businesses can receive the support they need to recover from a pandemic, and associated mitigations, which they could not control.
REVITALIZATION IN THE NEWS: Illinois Announces $8.4 Million in Small Business Grants
“A strong pandemic economic recovery includes recognizing that some communities have long been denied their fair share of resources,” said Governor JB Pritzker. The Illinois Department of Commerce and Economic Opportunity has announced on Monday, January 10th that $8.4 million in new additional grants will be available to small businesses and commercial corridors. This is…
The RISE Grant Program
The RISE Grant Program The pandemic has had a significant impact on the Illinois workforce. Small businesses are still struggling to hire qualified employees which has greatly impacted their operations. Illinois policymakers will need to promptly pass forward-thinking policies to help get folks back into the workforce. The SBAC is advocating for the passage of…
Childcare Tax Credit
One issue that has lead many to put off re-entering the workforce from the pandemic fallout is the cost and difficulty in terms of finding affordable and quality childcare. The SBAC has determined it is such a significant issue that it has been added to our agenda for the 2022 Spring Session. The childcare tax…
