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E-Developments
Winnetka's Connection To Village Businesses and Events
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Financial Assistance for Small Businesses
To help alleviate some of the unprecedented challenges facing small businesses due to COVID-19, the Federal Government, State of Illinois and the private sector have announced a series of new measures to relieve pressures on small businesses. Detailed information is explained below and linked on the Village's small business resources webpage.
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 Federal Government AssistancePresident Trump signs "CARES" Act
Today President Trump signed into law the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act that is intended to provide relief for small businesses, unemployment provisions, and healthcare.
Key provisions of the CARES Act for small businesses include:
- $350 billion in the form of loans through the Small Business Administration (SBA) for funds for small businesses (less than 500 employees) impacted by the pandemic; some of those loans could be forgiven.
- The "Paycheck Protection Program" provides funds that can be used to make payroll and cover other expenses from February 15 to June 30. Small businesses may take out loans up to $10 million—limited to a formula tied to payroll costs—and can cover employees making up to $100,000 per year.
- Loans may be forgiven if a firm uses the loan for payroll, interest payments on mortgages, rent, and utilities. Loans would be reduced proportionally by any reduction in employees retained compared to the prior year and a 25 percent or greater reduction in employee compensation.
- Extended unemployment insurance program for laid-off workers that will allow for four months of "full pay" instead of the usual three months for most. This program will raise the maximum unemployment insurance benefit by $600 per week. Employers are eligible for a 50% refundable payroll tax credit on wages paid up to $10,000 during the crisis.
- Employer-side Social Security payroll tax payments may be delayed until January 1, 2021. 50% will be owed on December 31, 2021 and the other half owed on December 31, 2022. The Social Security Trust Fund will be backfilled by general revenue in the interim period.
- Firms may carry back net operating losses (NOLs) earned in 2018, 2019, or 2020 by five years. The NOL limit of 80 percent of taxable income is also suspended, so firms may use NOLs they have to fully offset their taxable income.
- SBA's 7(a) loan program providing financial assistance to small businesses for up to $10 million that includes payroll support (including paid sick or medical leave), employee salaries, mortgage payments, insurance premiums and any other debt obligations.
- Economic Injury Disaster (EIDL) Loan is a working capital loan for up to $2 million per business to alleviate economic injury caused by the disaster. The maximum interest rate for this program is 3.75%.
To apply for a loan online and to learn more information visit the SBA's website.
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 State of Illinois Assistance
Hospitality Emergency Grant Program
- Grant funds are available to support working capital like payroll, rent, job training, retraining and technology to support shifts in operations such as increased pickup and delivery.
- Bars and restaurants with a valid license to serve food or liquor and who generated revenues of less than $1 million in 2019 are eligible to apply.
- Applications are open now will be accepted until 5 PM on Wednesday, April 1. Recipients will be chosen via a lottery. Please email Liz Dechant or the Winnetka-Northfield Chamber of Commerce for application assistance.
- Applications and additional information is on the Illinois Department of Economic Opportunity's website.
Illinois Small Business Emergency Loan Fund
- DCEO and the Illinois Department of Financial and Professional Regulation (ILDFPR) have established this fund to offer small businesses low interest loans of up to $50,000.
- Small businesses located outside the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 are eligible.
- Businesses can receive a low interest loan of up to $50,000 with a 5-year repayment period with no payments due for the first six months.
- Interested businesses will be able to submit a form expressing their interest in the loan that will be posted on their website.
Read more information from the Illinois Department of Economic Opportunity.
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Assistance from the private sector
The private sector is stepping up to offer financial assistance and creative solutions to support small businesses.
Facebook Small Business Grants Program
- Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where they operate.
- Visit their Business Resource Hub with tool kits and action guides to support your business and continue communicating with customers.
- Find more information on Facebook's website.
Contact Your Lender
- We encourage you to contact your financial institution or lender to find out what resources they have available to their clients.
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 Village of Winnetka Updates for Local Businesses
Supporting our small business community is a priority for the Village. We are continually reassessing prevailing conditions and will continue to alert the community and businesses with the most up-to-date information concerning the COVID-19 pandemic. We are working closely with the Winnetka-Northfield Chamber of Commerce, State of Illinois, and the Federal Government, to keep you informed on the latest news and newest resources for your business.
Refuse and Recycling Update 
As we are learning how long the COVID-19 virus is able to remain on different types of surfaces, the Village of Winnetka and its recycling contractor, Lakeshore Recycling, ask that residents place all waste and recycling inside of refuse and recycling containers. At this time, nothing outside of waste and recycling containers will be collected. Special pickups and stickered item collections are also suspended at this time, for the same reason. We will update you when they resume.
Special Small Business Resource Web Page
The Village has created a landing page for business resources, and for promoting small businesses who are offering special services to customers during this time. Business resources include links to state and federal financial assistance, links to advertising and to partners like the Winnetka-Northfield Chamber of Commerce. These pages are evolving: if you do not see your business above, please email Economic Development Coordinator Liz Dechant to have your services shared.
Advertising Small Businesses on Social Media and In Front of Your Store
We are pushing posts of business owners on social media to showcase how hard you are working and to encourage customers to continue shopping locally. To get posted, email Liz Dechant high-res .jpgs of yourself and/or your staff in your business. Please include links to your social media pages. In addition, retail businesses and restaurants may place portable menu board outside of their businesses per the following standards. Self-supporting portable sign boards displayed within the commercial zoning districts are temporarily allowed without a permit and subject to specific limitations. Read more about resources for your business on the Village's website.
Join the Winnetka-Northfield Chamber of Commerce's Business Facebook Group
Connect to other business owners in the 60093 zip code. The Chamber's intention is to be a safe space where business owners can feel supported and share ideas about what you are doing to continue to do business in this unprecedented time. The Chamber will share pertinent information and updates. They are striving to serve you the best way they can through uncharted territory. Request to join the group.
Stay Informed
Residents can gather more information on COVID-19 from the CDC, the Illinois Department of Public Health, the State of Illinois website, or the City of Chicago’s dedicated coronavirus website. Questions about the Village’s meeting cancellations can be directed to the Village Manager's Office.
How to Engage with the Village
Contact us with content additions or questions.
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It is easy to support Winnetka businessses!
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Contact Us
Please contact Economic Development Coordinator Liz Dechant for additional assistance. You can email her or call her at 847-716-3528.
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