***Application for eligibility is now closed. 

Looking to Pivot Your Business into Recovery for 2021?

Most businesses have been negatively affected by the pandemic, especially small businesses. If you are a Solopreneur or a small business (< 2 years), and are looking to pivot, reinvent your business, find new customers, learn ways to deliver your service or product differently, you should consider Plan for Recovery!

Start Planning for Recovery Today!

This intense 6 session hands-on workshop will help you:
· Identify your strengths
· Identify new markets
· Define new ways of operating
· Identify opportunities and create new strategies
· Minimize future losses and recover faster
· Protect your business and establish continuity plans
· Come up with a plan for the future

When?
May 2021 Dates
Mondays and Wednesdays 10, 12, 17, 19, 24, and 26
9:00 am – 11:00 am, CDT

Where?
Via Zoom

Application Deadline:
May 3, 2021

Apply Now!

For more information, please contact:
orodriguez@wbdc.org

Economic Injury Disaster Loan

EIDL Advance funds were originally calculated based on the number of employees on an applicant’s COVID-19 EIDL application: $1,000/employee, up to a maximum of $10,000. The Targeted EIDL Advance provides businesses in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.

Eligibility
• All forms of business (Profit & Non-profit businesses), ESPOs, and tribal businesses
• Must employ no more than 500 employees
• Independent contractors, sole proprietors can apply as well

Eligibility for the Targeted EIDL Advance
• Must be located in a low-income community
• Must show at least 50% decrease in revenue
• Must employ 10 employees or less

Uses
• Can be used to pay business expenses (working capital, payroll, bills, fixed debts).
• Recipients do not have to be approved for an EIDL loan to receive the EIDL advance

Loan Amount for EIDL Loan
• Based upon businesses working capital for 6 months
• Maximum amount is subject to change based upon SBA guidelines

Grant Amount for EIDL advance
Up to $10K max

Interest Rate & Repayment for EIDL loan only
• 3.75% interest for small businesses, 2.75% for non-profits
• 30-year loan
• Payments deferred for 12 months ( your loan will continue to accrue interest, but you are not required to make any payments)
• No repayment necessary for the EIDL advance (grant)

Where to Apply
EIDL Loan is open and can apply directly on the SBA website: https://covid19relief.sba.gov
EIDL advance currently unavailable until further notice

 

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The Cook County COVID-19 Recovery: Small Business Assistance program provides support for small businesses impacted by the COVID-19 pandemic.   

On Tuesday, April 6th at 2:00 PM EDT, Reimagine Main Street will host a launch event regarding the important role small business owners can play in promoting vaccine access, confidence, and equity. As part of the event, we will:

1. Release results of a survey fielded in conjunction with the U.S. Black Chambers Inc., U.S. Hispanic Chamber of Commerce, and the National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship;
2. Hear from several diverse small business owners who are working on this issue;
3. Launch an education and outreach effort (including tools and tips sheets for Asian American and Pacific Islander, Black, Latin(x), and Native small employers) to encourage more small business leaders to promote vaccinations for their workers and communities; and,
4. Announce the commitment of hundreds of small business leaders who are taking action in their communities.

Register for the Event

We are asking you and all small business owners across the country to pledge your leadership in this area with both your business and community.

By taking the pledge, you are committing to championing the vaccine with your employees and in your community through at least one action that can include getting the vaccine when it is your turn, creating a vaccine plan for you and your employees, or assisting with vaccine promotion and distribution in your community.

Learn More About The Pledge

Small businesses fully reopening is critical to putting our economy on the path to recovery. We hope you will take the pledge and join us on April 6.