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.
Elliot Richardson speaks with FOX 32 about #ChiBizStrong on June 19th.
Elliot Richardson, SBAC President, speaks with FOX 32 about #ChiBizStrong and stopping politics from derailing important reforms for business. Please translate this page to the language of your choice. Supporters Fifth Third Bank Saul Ewing Arnstein Lehr Inland Bank Ntiva Daily Herald Tandem HR Interprenet Signature Bank Lexitas Empower Korey Richardson Open One Solutions Freeborn…
Are Illinois politicians supporting small businesses?
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”
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…
