Copy
View this email in your browser

Contact us at info@mpbhba.org  /  erin@95thstreetba.org 

or visit mpbhba.org / 95thstreetba.org

FOR SUPPORT, RESOURCES, AND IMPORTANT INFORMATION 

Amex Customers to Get Cash Back for Shopping Small

American Express has a special offer to help small businesses come back stronger. AmEx Card members can get $5 back in the form of a statement credit after they spend $10 or more at small businesses—in-store and online—up to 10 times. 

Small businesses can participate by getting verified on the Shop Small online map. Then they can download materials to share at their business location and spread the word to their customers. Amex cardholders need to enroll by July 26, 2020, and spend by September 20, 2020.  

From website banners and social assets to in-store posters and offer badges, AmEx has  everything you need to get the word out.
Get Listed on ‘Shop Small’ Map

Apply Now for Business Interruption Grants 

The Illinois Department of Commerce & Economic Opportunity announced a  new Business Interruption Grant (BIG) earlier this month.  In the first wave of grants, priority will be given to small businesses that have been heavily restricted or completely shut down during the pandemic.
 
Additional priority will be given to businesses located in disproportionately impacted areas (DIAs), or low-income areas that have had high rates of COVID-19 cases. Bars and restaurants, barbershops and salons, and fitness centers that are not located in DIAs are also eligible. Businesses eligible for the program must have experienced extreme hardship, demonstrated by experiencing eligible costs or losses in excess of the grant amount since March.
Please note: 60643 is considered a DIA, but 60655 is not.

Application Opened: June 26th
Application Deadline: 5:00pm on July 7th

 

Paycheck Protection Program:
New EZ Forgiveness Application Now Available! 

The Small Business Administration (SBA) has just released a streamlined form for applying for forgiveness with your Paycheck Protection Program (PPP) lender. You are eligible to fill out the EZ Forgiveness Application if you meet one of the following requirements:
  • You are self-employed and have no employees; 
  • You did not reduce the salaries or wages of your employees by more than 25%, and did not reduce the number or hours of your employees; 
  • You experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of your employees by more than 25%.
Note: Businesses that don't meet one of these requirements will still need to complete the Full Forgiveness Application

The SBA has also updated its PPP guidance to reflect changes enacted by the Paycheck Protection Program Flexibility Act. Businesses now can use PPP funds over a 24-week period, and the covered period for the loan was extended until Dec. 31, 2020
Learn more

SBA Reopens Economic Injury Disaster Loan Application

The SBA has reopened its application form for the Economic Injury Disaster Loan (EIDL) Program. This program provides flexible working capital loans at a rate of 3.75% (2.75% for nonprofits) with a term of up to 30 years. Applicants also are eligible for an advance amount of up to $10,000 ($1,000 per employee). If you have already applied for EIDL and have not received a decision, do not reapply. The SBA is still working on processing EIDL applications it has already received. 

Illinois businesses affected by civil unrest between May 26 and June 8, 2020, can apply for low-interest disaster loans from the U.S. Small Business Administration. Economic Injury Disaster Loan assistance is available, regardless of whether the business suffered any physical property damage, and can be used for working capital.
Learn more

LGBT Chamber Holds Virtual Networking & Painting Event

Join the LGBT Chamber of Commerce of Illinois on Tues., July 14, as they host their first virtual Mix & Mingle. Guests will be able to participate in a DIY wine glass paint activity, while also building new relationships. Attendees will be joined by Julie Langrehr with the City of Chicago Department of Procurement Services. Julie will provide an update on the city's survey to study its spending with LGBTQ+ owned businesses. 
Learn more and RSVP

Be a Part of Property Tax Reform with ‘Renew Cook County’

Renew Cook County is a campaign to change the property tax assessment system that shifts burden onto commercial and industrial property. Renew is the central hub for people to raise their voice and tell their story about how inflated commercial and industrial tax assessments hurt small businesses, economic recovery and investment in Cook County.
 
Renew Cook County is looking to connect with small business owners, property owners and business association members who are concerned about the high commercial or industrial property tax assessments. They want you to share your story and concerns in your own voice. They have already spoken to other small businesses, property owners and chambers who have shared their concerns.
 
Contact Emily Pevnick at Emily.Pevnick@renewcookcounty.com to add your voice and learn more about their efforts.
Facebook
Instagram
Website
Copyright © 2020 The 95th Street Beverly Hills Business Association, All rights reserved.


Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp