Small Business Forum + Financial Assistance Info

In this Issue:

Join us tomorrow Oct. 14, 2020 for our signature business education forum (held via Zoom)

New PPP program for loans of $50,000 or less

Time is Running out to apply for the
Village Small Business Assistance Program

Still time to apply for State BIG funds

Join us for tomorrow's 5th Annual Small Business Forum

"Pivoting" towards new markets, services, or products can help you build your business with your existing resources. Learn tangible things you can do now to modify your business model and create new growth and survival strategies.

Our 2020 Forum is virtual, via Zoom. Join us for 1, 2, or all three panels. Our expert business coaches will discuss marketing, financing, and growing your business - this year, with a focus on strategies to modify, "pivot," your business to carry you through tough times like this pandemic.

Wednesday
October 14, 2020
9 am - noon, Virtual

9 am - Market to Meet Your Customer's Needs - what do they expect? Stretch your marketing dollars and create value in every message.
10 am - Reading Your Financials: When properly categorized, business financials will provide a path to identify your business growth opportunities.
11 am - Cash flow is critical to weathering the pandemic without draining your personal resources. What do you need to have your financials in order for rapid response to grants and loan opportunities?

Join us! Event is free. For more info: (630) 823-5780 or www.hpil.org
Download the Event flyer
Register Here.

Sponsored by:

Press Release on Simpler PPP Forgiveness Program for Loans less than $50,000

SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or less

On October 8, 2020 the US Small Business Administration in consultation with the Treasury Department released a simpler loan forgiveness application for Paycheck Protection (PPP) loans of $50,000 or less.

This action streamlines the PPP forgiveness process for smaller businesses.

Click here to view the simpler loan forgiveness application.
Click here to view the instructions for completing the simpler loan forgiveness application.
Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.

Cut & Dry - Open for Business!

Funding for the Village Covid-19 Business Assistance Program ends in December

Time is running out to apply.

Over 80 businesses are using the free "We're Open" signs, A-Frame Signs which the Village offered to small independent businesses that were impacted by the pandemic shut-down. An application is found online.

The Village Small Business Assistance Program includes small marketing grants to assist small businesses who need help creating an on-line presence with a basic website and social media tools. More information is online.

Round 2 BIG Program

BIG Applications Still Available

The Business Interruption Grant (BIG) program is open to all eligible businesses (for-profit and non-profit) with $20 million or less in annual revenue for 2019 who have experienced losses due to COVID-19.

The grant size will be equivalent to two months of expenses. Accion and the Women’s Business Development Center (WBDC) will process the grants in this round which will range from $5,000 to $150,000, commensurate with revenue losses incurred and business size. The application portal for the second round of BIG is now open.

The second wave of funds includes a focus on businesses in disproportionately impacted areas (DIAs) - which includes Hanover Park. A map of DIAs can be accessed here.

ASSISTANCE: For assistance with your application, please submit a question via the following question submission form in either English or Spanish.

ROUND 2 APPLICATION DETAILS:

Questions? Please Contact the Community & Economic Development Department

SHUBHRA GOVIND, AICP

Director of Community and Economic Development

Email

630-823-5781

ELLEN WEBER

Village Planner

Email

630-823-5779

If you would like your business news included in a Business Matters newsletter, please contact Village Planner Ellen Weber at (630) 823-5779, or eweber@hpil.org