Here is the latest information we have to share with our businesses.
This afternoon Gov. Pritzker announced a two-month delay in sales tax payments. “Under the directive, eating and drinking establishments that incurred less than $75,000 in sales tax liabilities last year will not be charged penalties or interest on payments due in March, April or May made late. The Department of Revenue estimates this will give relief to nearly 80% of bars and restaurants in Illinois.” For more information on this visit www2.illinois.gov.
We are still waiting for the official economic disaster declaration for Illinois. Once that occurs, the Small Business Administration will start taking applications for low-interest loans. The loans are coming straight from the SBA and are 30-year term with the first year of payments being deferred. There are requirements and restrictions. To apply for the loan visit https://disasterloan.sba.gov/ela/Information/Index. Again, we understand that a loan may not be ideal for everyone. We continue to research and seek out options for our members.
We continue our communications with our local legislators and the U.S. Chamber. The U.S. Chamber continues to push its three police proposals:
1. Legislation canceling payment of all payroll taxes paid by employers for the months of March, April, and May
2. Legislation expanding and streamlining loan programs for small businesses
3. Legislation enabling the creation of credit facilities to provide loans and loan guarantees to employers with more than 500 employee
For more information on these initiatives visit uschamber.com.
The Community Foundation of Grundy County has reactivated the Grundy County Disaster Fund to accept donations toward the COVID-19 response in Grundy County assisting our area nonprofits who are helping our families in need at this time. To donate visit cfgrundycounty.com.
The Grundy County Chamber and the Channahon Minooka Chamber continue to support our members and remind the community that our local businesses need their support. Please continue to visit grundychamber.com for updated information on COVID-19 response and on our members. Share from our social media outlets, and most importantly let us know how we can help you.
Stay healthy and remember that we will get through this together.
Christina Van Yperen
Chamber President & CEO