Paycheck Protection Program – Extended Through May 31, 2021
Paycheck Protection Program ***Closed as of 5/31/21. PPP is working for you. PPP has been extended through May 31, 2021. Lenders are open and accepting applications. PPP’s funding formula has been revised for sole proprietors, independent contractors, and self-employed individuals to receive more financial support. Additional critical changes have helped to increase equity and access […]
WBDC: Start Planning Your Business for Recovery in 2021
***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 […]
EIDL Overview: What you need to know
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 […]
Be a Small Business Vaccine Leader: Join Us 4/6/21
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: Release results of a survey fielded in conjunction with the U.S. Black Chambers Inc., U.S. Hispanic Chamber of Commerce, and […]
Restaurant Revitalization Fund FAQs
***Application for eligibility is now closed. 5/24/21. UPDATE (5/21): Final Call! SBA announced that businesses have until Monday, May 24, 8 p.m. ET, to submit applications to the Restaurant Revitalization Fund The SBA still has potential set-aside funding available for eligible establishments with 2019 annual revenue of not more than $50,000 Eligible establishments that meet […]
Guidance on Grant Funds & Taxes
As a recipient of Cook County COVID-19 Recovery Grant Recipient/Coronavirus Relief Funds (CRF) through the county, you should have received a 1099-MISC Form from the WBDC. If you have not received your form please email COVID19Help@wbdc.org. Please include the name of your business, the business owner’s name, and the programs you participated in. State and local grants are […]
PPP Updates: Feb 22, 2021
Delivering equitable relief to hard-hit small businesses is a top priority. On February 22, some critical reform was announced to build on the success of PPP. These changes are designed to improve equity and access to the smallest business owners, minority-owned businesses, and those located in underserved areas across America. Employers with less than 20 […]
Small Business Profile: Oak Lawn-based Juicy Luzy Sangria
The thought of the uncertainty and fear the COVID-19 pandemic introduced to Luz Cavazos’ life and livelihood still brings tears to her eyes. The owner of Juicy Luzy Sangria poured her savings, heart and soul into her business when she opened its doors four years ago, and the pandemic threatened to take everything away. Through […]
Small Business Owners: PPP Eligibility
In 2020 small businesses around the world were stunned by the economic impact of COVID-19. The paycheck protection program (PPP) was created to offer financial relief to small businesses owners, specifically to cover monthly payroll costs, rent, interest and utilities. During the initial release of the loan “Main Street” struggled gaining access. With the most […]
What You Need to Apply for PPP, Forms & Documents
Small businesses are often passion projects that started to turn a profit. There are endless tales of small businesses owners who can’t manage the books. If this resonates with you, you aren’t alone. During the first round of PPP many small business owners found themselves ineligible or unwilling because of the paperwork. You run a […]
