May 2021 Business Matters News
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Learn more at the May 12, 2021 Town Hall meeting.
ComEd will join Mayor Craig and Community & Economic Development Director Shubhra Govind to answer questions about Energy Efficiency Programs, Solar Energy, and other business incentives and assistance.
All Business owners, commercial / retail / industrial property owners, and owners of multi-family rental properties are invited to join us. Log-in information for this virtual Town Hall session is in the Village Calendar.
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Want to help improve Hanover Park's business climate?The bi-annual Village Business Climate and Business expansion survey provides the Village with useful information to help set policies and programs.
Please let us know your business needs - the Community & Economic Department can help with a list of available properties, referrals to hiring resources, and general liaison assistance.
We’ve kept this online survey short! Thanks in advance for your assistance! Complete the survey
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The SBA starts accepting applications via the application portal TODAY, Monday, May 3, 2021.
The application portal will remain open to any eligible establishment until all funds are exhausted.
- If you haven't already, register for an account on the application portal at restaurants.sba.gov. If you are working with Square or Toast, you do not need to register.
- Review the sample application, program guide and cross-program eligibility chart on SBA COVID-19 relief options. SBA also added screenshots of the application portal that are available here.
- Applications must be submitted in English or Spanish. SBA documents are online in seventeen (17) additional languages to help you understand eligibility requirements, fill out applications, and answer frequently asked questions. See the additional languages and materials here.
- If you were unable to attend one of the webinars held last week which covered program details and a demonstration of the application portal, you can watch the recording here.
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EIDL Reevaluation of Declined Requests
Effective immediately, applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined. Applicants should follow these instructions when requesting a reevaluation:
- Send an email to TargetedAdvanceReevaluation@sba.gov
- Use the subject line “Reevaluation Request for [insert your 10-digit application number]”
- In the body of the email, include identifying information for the application such as application number, business name, business address, business owner name(s) and phone number
- Important: Include an explanation and any documentation that addresses the reason for the decline, if available. SBA will contact applicants if additional documentation is required to complete the review.
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PPP Loans offered until May 31, 2021The current round of the Paycheck Protection Program (PPP) is reaching smaller borrowers (small businesses), with 94% of all loans going to businesses with 20 or fewer employees. SBA is currently offering PPP loans until May 31, 2021. Apply for a first or second draw PPP loan and loan forgiveness.
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The IRS regularly updates new details on tax related programs of interest to small business, including several Tax Credits. For the latest information, please see:
- Paid Leave Credit for Vaccines — The American Rescue Plan Act of 2021 (ARP) allows small and midsize employers, and certain governmental employers, to claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations. The ARP tax credits are available to eligible employers that pay sick and family leave for leave from April 1, 2021, through September 30, 2021. For more Information see our fact sheet.
- Employee Retention Credit — New law extends coronavirus tax credit for employers who keep workers on payroll: New law extends coronavirus tax credit for employers who keep workers on payroll. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, amended and extended the employee retention credit (and the availability of certain advance payments of the tax credits) under section 2301 of the CARES Act.
- Sick and Family Leave Credits — COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses: COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses. The COVID-Related Tax Relief Act of 2020, enacted December 27, 2020, amended and extended the tax credits for paid sick and family leave under sections 7001-7005 of the Families First Coronavirus Response Act.
- Work Opportunity Tax Credit — Are you currently hiring? Consider a candidate who may qualify you for the Work Opportunity Tax Credit. The WOTC is a Federal tax credit available to employers for hiring individuals from certain targeted groups who have consistently faced significant barriers to employment.
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Take a Day for Golf with the Bartlett Area Chamber of Commerce on June 17, 2021All golf registration includes golf with cart, grab 'n go breakfast, Bloody Mary Bar, draft beer and Drink of the Day on the course, and dinner. Foursomes: $560 includes advance purchase of four Mulligan Packs with golf; or $460 no Mulligan Pack Single golfers: $150 includes advance purchase of one Hole in One/Mulligan Pack with golf; or $125 no Mulligan Pack
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Start Your "Cinco" with the Northwest Hispanic Chamber of Commerce
This Wednesday - 5/5/21 Cafecito -
Real Estate is hot right now. Come hear from experts!
Join the Northwest Hispanic Chamber of Commerce, Cleo Aquino of SPIRE Real Estate School and Joe Rosario of eXp Realty to discuss career paths and investment opportunities in real estate. El Cafecito is free and May 5th will be held virtual. Bring your morning beverage and join in!
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Join DuPage Habitat for Humanity and the Village Cultural Inclusion and Diversity Committee to continue Martin Luther King Jr's legacy of volunteerism. |
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 MLK Clean-up Activities
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All activities will be outdoors & follow social distance guidelines.
Ages 10+ are welcome.
To register & learn more, contact Mica Stokes at mstokes@gohabitat.org, or (630) 510-3737, x 309. |
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 QR Code for MLK Painting
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The Village partners with many Small Business Development Centers and Agencies who offer free and low cost training and assistance, including: The Village continues to post informational webinars on the webinar/seminar page. Also, the Village Covid 19 news page is here. and includes links to vaccination and testing sites, data, and resources for both businesses and for residents.
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SBDC at College of DuPage - PTAC Webinar: Bid to Win
May 17, 2021, 9:30 a.m. to noon
Are you interested in winning a government contract, but aren't sure how to write a good proposal to respond to a bid? Bid match is only the beginning, this workshop will teach you the basics of writing a proposal that is going to ensure you are responding to everything that is asked of you in a solicitation. Various bid documents will be discussed and you will leave with a better understanding of what government contracting officers are expecting to see when you submit your proposal to them. Federal, state, and commercial proposals will be covered.
Register now: https://ilsbdc.ecenterdirect.com/events/34212
WBDC's ScaleUp - small business growth assistance
July 10, 2021 through September 4, 2021 - 9 weeks, 3 hours, once a week
The WBDC 9-week program called “ScaleUp” meets for a 3-hour class, once a week for 9 weeks. You will learn from experts on vital topics: marketing, management, and finances. The next Scale-up Cohort begins in July. Here is a link to sign up and for more info: https://www.wbdc.org/scaleup-2/
SBDC at ECC now offering Spanish one-on-one small business advising
The Illinois SBDC at Elgin Community College now offers bilingual (Spanish) one-on-one small business advising and assistance with Paycheck Protection Program (PPP), the Economic Injury Disaster Loan (EIDL), and other SBA lending options. Advising is FREE and confidential. Schedule phone and Zoom one-on-one appointments. They are currently delivering all services virtually.
For more information on all the programming at ECC, contact the SBDC Director Sara Troyer at Cell: (224) 856-8649, or email: stroyer@elgin.edu
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Both DuPage and Cook County offer free training services to help you hire and train both new and existing workers.DuPage County Business Services at workNet DuPage is the county’s official workforce center funded by the federal Workforce Innovation and Opportunity Act (WIOA). Assistance for Cook County businesses is available through the Education to Career center at Hanover Square.
Our thanks to workNet Dupage's Director Lisa Schvach who discussed their free services during the Village's April 12, 2014 Town Hall meeting. A recording is on the Village You Tube Channel.
Contact Kathy Sjodin in Community & Economic Development for more information at (630) 823-5780, or ksjodin@hpil.org
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A current Business Plan is essential when applying for financing, and vital when planning and setting business goals.
The Village partners with the WBDC Aurora office, bringing their wide range of resources to existing and start-up businesses. The WBDC can provide one-on-one assistance at low or no cost through meetings, classes and specialized training.
The WBDC templates for creating a business plan is really simple – just a couple pages. Click here to download a template in your preferred language – English and Spanish .
Contact Minerva Calatayud at: mcalatayud@WBDC.org. Clients can make appointments with her using the following link: https://wbdcscheduling.as.me/MinervaCalatayud
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If you would like to grow, expand, engage your employees, increase innovation, or need business coaching, you might be a candidate for this FREE service.
The Village of Hanover Park is one of 5 communities sponsoring Next Level Northwest, a business accelerator program designed to assist “Stage II” businesses with professional, confidential coaching, mentoring and technical assistance to accelerate their business to the next level.
To apply, visit www.nextlevelnorthwest.org. For more information, please contact Shubhra Govind, Director of Community and Economic Development at (630) 823-5781 or sgovind@hpil.org.
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Questions? Please Contact the Community & Economic Development DepartmentSHUBHRA GOVIND, AICPDirector of Community and Economic Development 630-823-5781 ELLEN WEBERVillage Planner 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
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