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Press Release – Chicago’s Cut Red Tape Agenda Chicago’s Cut Red Tape Agenda March 2, 2021 – FOR IMMEDIATE RELEASE Contact: Elliot Richardson // 847-380-4900 // Elliot@sbacil.org   Cutting unnecessary and burdensome red tape will help Chicago’s small and local businesses recover from the pandemic.  Much of this red tape should have been eliminated long…

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ACTION CALL! Legislation To Get People Back To Work Legislation To Get People Back To Work State Representative Gong-Gershowitz has filed the RISE Act.  This legislation will get people back to work and support small businesses.  The RISE Act (House Bill 0801) creates a tax incentive for businesses that retrain and hire employees who have…

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Rebuilding Lives and Businesses Hard-working Americans had no idea what was coming in February of 2020.  It seemed unfathomable that many small businesses would face the possibility of permanently closing or their employees would be without jobs in the spring.   With the resurgence of Covid-19 cases, the situation for both small businesses and their…

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Business Interruption Insurance WHAT IS BUSINESS INTERUPTION INSURANCE? The COVID-19 pandemic has had a devastating impact on individuals, families and communities. The pandemic is also causing tremendous financial hardship on small and local businesses. Typically, businesses will carry business interruption insurance to cover for potential extended closures caused by extraordinary circumstances. Competent business owners have…

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Minority Contracting Reform QUICK FACT SHEET RECOMMENDATION FOR LEGISLATION Illinois has failed many Black and/or African American owned businesses because they have been unable to procure their fair share of government contracts or receive a fair share of the revenue associated with government contracts. This proposed legislation makes the reforms necessary to ensure that Black…

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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…

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RISE Act 2020

R.I.S.E. Act READ HB-0801 HERE QUICK FACT SHEET TAKE ACTION Recovery Initiative to Support Employment Small businesses in many industries are struggling and as a result, have no choice but to layoff valued employees. Entrepreneurs and independent contractors in the fields most impacted by the pandemic are also losing their businesses. The COVID-19 pandemic has…

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