COVID-19 Business Resources
The Village’s goal is to be a resource for businesses. This is uncharted territory for everyone and exactly the type of situation where we need to lean on each other for support. In order protect your long term success, the Village will continue to update this page with current information and relevant resources that are available to our local businesses. As always, be sure to read through the details to know your responsibilities and obligations.
New and updated business assistance programs are available through the State of Illinois. If you have questions about any of these programs please feel free to contact Marty Scott, Director of Community Development, at 246-1800, x175.
In Case you missed it: ***NEW***
Yesterday, President Preckwinkle joined Cook County Commissioners Moore and Degnen, Calumet City Mayor Michelle Markiewicz-Qualkinbush, leaders from the Cook County Bureau of Economic Development and the Illinois Energy Conservation Authority and community partners to announce the launch of the Commercial Property Assessed Clean Energy program (C-PACE).
The C-PACE program provides long-term, fixed-rate funding to private building owners for energy efficiency projects to be installed in both existing and new commercial properties across Cook County.
Eligible properties include office buildings, hotels, retail, agricultural, non-profits, industrial buildings and multi-family properties – with five or more units. Projects must be located in Cook County to apply.
For more information or to apply for C-PACE financing, visit the Cook County website at: www.cookcountyil.gov/CPACE
PPP Loan Applications - Important Info
PPP Opened Today for First Draw PPP Loan Applications
Starting January 12th, community financial institutions (Community Financial Development Institutions, Minority Depository Institutions, Community Development Corporations or Microlenders) can submit First Draw PPP loan applications to the SBA and on Wednesday, they will be able to submit Second Draw PPP loan applications. Just a few days following, the PPP will re-open to all participating PPP lenders for First and Second Draw PPP loans.
Updated PPP Loan Applications and Process Details
Updated applications have been released for First Draw and Second Draw PPP loans. PPP applications must go through participating PPP lenders, who then route them to the SBA for approval. Per this guidance, the SBA continues to call upon our lending partners to assist eligible borrowers in underserved and disadvantaged communities and address potential barriers to access to capital.
If you are seeking economic aid via the PPP, we encourage you to start communication with your lender now to understand the financial institution’s processes.
What’s a First Draw PPP Loan and a Second Draw PPP Loan?
In general, a First Draw PPP loan is for eligible borrowers who did not receive a PPP loan before the program closed in August 2020. A Second Draw PPP loan is for certain eligible borrowers that previously received a PPP loan, generally have 300 employees or less, and have suffered a 25% reduction in gross receipts.