In This Issue:

• New Grants 
• Google On-line Training
• Restaurant Tax Credit

• Apply for free business counseling through the Village Next Level Northwest program

• PPP Updates
• Be Aware of COVID phishing scams

Cook County businesses may be eligible for these grants 

Cash flow is a "make or break" element in small business operation and grants can provide relief.

Click on the icon to the right for resources from the Women's Small Business Development Center to help manage yours.

• Fiserv Back2Business Grant Program, click here: Deadline February 26, 2021  (Chicago and Cook county businesses only)
• Comcast - Time to Rise, click here: Deadline: May 7, 2021        (BIPOC owned and operated)
• Comcast Rise Investment Fund, click here: Opens March 1, 2021 and Closes March 14, 2021 (Chicago and Cook County businesses) 

Google Training Videos On-Line

Using Google can increase your business's on-line presence and productivity. 

This quick video discusses how to get your business listed on-line and in maps. 

Using Google tools can increase productivity and help you work faster and smarter - for example, organizing emails into tasks in one step, using voice-to-text typing in Docs and creating calendar work blocks ot manage times.  Google's Partner Digital Series webinars are available online.  The video slide show with links to all functions is here.

Restaurant Tax Credits

A new law signed in late December 2020 makes restaurants eligible for an employee retention tax credit, even if they received a PPP loan.

Now, for any calendar quarter between March 13 and Dec. 31, 2020, a restaurant with 100 or fewer full-time employees may be able to access ERTC of up to $5,000 per employee.   And, for the first two quarters of 2021, restaurants with 500 or fewer full-time employees may be able to access ERTC of up to $7,000 per employee per quarter. Read how it works.

Join the National Restaurant Association and tax experts at Covington & Burling LLP and BDO as they walk restaurant operators through how to take full advantage of PPP loan filing and forgiveness and will provide updates on recent developments in:

• Employee Retention Tax Credits for 2020 and 2021 (note: new rules might make you eligible for up to $19K per employee)
• Net Operating Loss carryback
• Qualified Improvement Property depreciation

Webinar is Wednesday, February 24, 2021 at 2 PM   -   Register

And, in case you missed the National Restaurant Association webinar "Taking a Shot at COVID-19: What Restaurants Need To Know About Vaccinating their Workforce," the webcast is now on-demand.  Use this link to watch the webcast. 

Apply for the free Next Level Northwest program 

The Village seeks Hanover Park businesses poised for growth.  

The Village has invested in the Next Level Northwest business accelerator program to help our growing businesses expand.  To qualify, you must have been in business at least a year, are not a "start-up," have more than 1 employee, and are willing to commit to improvement.  If you meet the criteria listed below, we invite you to make a “pitch” for your business to be selected. 

Participation in this business counseling program is FREE. Read about participating business success stories: https://www.nextlevelnorthwest.org/success-stories/.   

Still considering a first PPP or a Second Draw PPP Loan?

The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan.

 
You can apply for a Second Draw PPP Loan from January 13, 2021, until March 31, 2021. SBA is currently accepting Second Draw PPP loan applications from participating community financial institutions (CFIs) and lenders with under $1 billion in assets, which includes approximately 5,000 institutions, including community banks, credit unions, and farm credit institutions. The program opened to all lenders on January 19, 2021. Lender Match can help connect you with a lender. 

All Second Draw PPP Loans will have the same terms regardless of lender or borrower.   Second Draw PPP Loans can be used to help fund payroll costs, including:

• benefits
• Mortgage interest
• Rent
• Utilities
• Worker protection costs related to COVID-19
• Uninsured property damage costs caused by looting or vandalism during 2020
• Certain supplier costs
• Expenses for operations

Beware of PPP Phishing Scams