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 The RISE Grant Program - HB4455. This legislation connects those interested working in a new field or industry with small businesses struggling to hire new employees. Importantly, HB4455 offsets the costs associated with on-the-job training at the inception of the employer-employee relationship. The legislation provides funding for $5,000 grants which can be awarded to businesses that (1) retrain and hire employees that lost their jobs or businesses because of the pandemic; (2) employ less than 50 employees; and (3) create a new net job.
Illinois received over $8 billion from the American Rescue Plan Act funds. The SBAC contends a responsible portion of those funds should be used to support small businesses struggling to hire new employees. This legislation allocates $250,000,000 in funding for this new grant program. This legislation connects those interested working in a new field, in part, facilitated by the pandemic, with small businesses that are struggling to hire new employees. HB4455 creates opportunities for small businesses, while helping get people back into the workforce.
Main Street Lending Proposal
SUMMARY The Federal Reserve established the Main Street Lending Program (the “Program“) to help aid small and medium-sized for-profit businesses and nonprofit organizations who were in sound financial condition before the onset of the COVID-19 pandemic and who were unable to get aid under any of the other COVID-19 related relief programs (e.g. under…
PPP Funding for Businesses and Non-Profits Webinar
WATCH: Congressman Brad Schneider from Illinois’ 10th district, Bo Steiner from the Small Business Administration, and Elliot Richardson President of the SBAC spend one hour answering questions about the second round of PPP relief. The SBAC is grateful to have had the chance to participate in this webinar on PPP Funding for Businesses and Non-Profits.…
What 2021 Could Mean for Small Businesses
January 20, 2021 By Elliot Richardson Small Business Advisory Council SBAC President Elliot Richardson’s column discusses the Business and Economic Outlook Forum hosted by the Daily Herald Business Ledger. The piece highlights the need for legislation that provides financial resources for small businesses to retrain and hire Illinoisans who have lost their jobs or businesses…
