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Help Pass the House Democratic Relief Package for Restaurants, SBA Loan FAQ, Chicago Resiliency Fund

Tuesday, March 24, 2020  
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The Illinois Restaurant Association continues to engage with local, state, and federal officials to help our employers and employees address concerns about coronavirus (COVID-19).

Please see the below resources and information for your business - updated as of 10:30 a.m. on Tuesday, March 24.

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House Democrats Unveil Package With Restaurant and Employee Relief Measures

 

Last night, House Democrats introduced their $2.5 trillion coronavirus Phase 3 stimulus package. Click here for a one page bill summary.

The $2.5 trillion package, introduced by Chairwoman Nydia Velasquez (NY - 7th), includes the definitions of employer (500 or less employees per legal entity) that the IRA and other stakeholders fought for in the Rubio/Cardin bill in the Senate. The package also includes $500 billion for small business and and worker relief and $500 billion for unemployment benefits, including:

  • $1,500 checks for individuals

  • $3,000 checks for joint filers

  • Extra $1,500 per child up to three

  • Maximum $7,500 per family

  • Universal for those w/ taxpayer ID # (includes seniors, unemployed)

  • Individuals making $75K+ in 2020 will pay some/all of it back

Click here for a breakdown of the Rep. Velasquez' relief package.

Your voices continue to be heard in Washington!

We need you to help keep the pressure on to pass a Phase 3 package that guarantees small businesses and their employees receive the most possible relief.

Click here to urge Congress to pass restaurant relief today.  

 

U.S. SBA Economic Injury Disaster Loans FAQ

 

The Small Business Administration (SBA) has developed a FAQ sheet for businesses applying for Economic Injury Disaster Loans (EIDL).

Included in the FAQ are qualifications, forms needed, interest rates, turnaround time information, and more.

Click here to read more.

 

Essential Employee Template Letter - Share With Your Teams

 

As the state of Illinois has designated restaurants as Essential Businesses during the COVID-19 crisis, foodservice workers may need documentation to identify themselves as essential employees to authorities when traveling to or from work.

Click here to download a template essential employee letter that can be used for your restaurant.

 

Chicago Small Business Resiliency Fund

 

Through an innovative public-private partnership, Chicago has dedicated over $100 million to provide emergency, low-interest loans to severely affected small businesses.

The fund will lend up to $50,000 in working capital loans to small businesses with fewer than 50 employees that have seen a 25% revenue decrease due to the impact of COVID-19.

Applications will be accepted starting March 31st. Interested business owners are encouraged to fill out an interest form for more information. If you are a philanthropic institution or a corporation interested in contributing to the fund, please submit your information to resiliency.funds@cityofchicago.org.

Click here to download a one pager on the fund.

 

 

Reminder - Use The IRA Website COVID-19 Resources

 

The IRA is adding hourly updates and COVID-19 resources, FAQs, government regulations, and more.

IRA COVID Updates

Hundreds of Job Opportunities

Government Guidance and Regulations

National Restaurant Association COVID-19 Resources

Sign Up to Offer Hospitality Relief

Please visit our website to find crucial information that you need for your business and employees.

As always, the IRA staff is available as a resource to you. Our team is 100% focused on helping Illinois' restaurants navigate through the COVID-19 crisis.


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