Kane County: 4 Vital Resources Local Business Can Access Right Now

Kane County: 4 Vital Resources Local Business Can Access Right Now

  • Editor’s Note: The following article contains local business-relief recommendations from the Kane County Development and Community Services Department. Please bookmark and return to this page for updates. For more information, visit the COVID-19 BUSINESS/CONSUMERS/JOBS landing page.

10AM WEDNESDAY, APRIL 15

The Kane County Developme​nt and Community Services Department is taking the lead in pointing local businesses to resources that can help them recover from the economic impact of the COVID-19 pandemic.

Mark VanKerkhoff

Development Director Mark VanKerkhoff and Planner Chris Toth have compiled the following online resource list for small- and medium-sized businesses in Kane County.

The landscape is ever-changing, and pace of decision-making is fast-moving.

Here are their recommendations:

Coronavirus (COVID-19): Small Business Administration Guidance & Loan Resources

Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.

SOURCE: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Update to SBA Paycheck Protection Program FAQs

April 13, 2020: The Small Business Administration (SBA) and U.S. Treasury have once again updated their Frequently Asked Questions (FAQs), revising their April 6 guidance for borrowers and lenders.

The SBA has made it clear that the U.S. government will not challenge actions by lenders that conform to the Interim Final Rulesupporting guidance, and FAQ document.

Learn more about the Pay Protection Program here

PAYPAL Announces Paycheck Protection Program Small Business Loan Website

On Monday (April 14, 2020) PAYPAL became a small business loan center (for the PPP) for majority of the small businesses that do not have a relationship with a bank.

The lender for the Paycheck Protection Program loan through PayPal is WebBank, Member FDIC. Terms and conditions apply. Loans subject Lender Approval and SBA eligibility and approval criteria under the Paycheck Protection Program.

SOURCE: https://www.loanbuilder.com/ppp-loan-application

DEADLINE APRIL 30: Samuel Adams Restaurant Strong Fund Grants for Restaurants

Samuel Adams has announced its Restaurant Strong Fund to offer $1,000 grants to unemployed restaurant and bar staffers impacted by COVID-19 in 20 states, including Illinois.

There are more than 1 million restaurants in the U.S., home to more than 15 million employees nationwide who are especially vulnerable to the effects of Covid-19 closures.

Learn More and Apply Now (Deadline April 30) at https://www.restaurantstrong.org/apply-for-grant/index.html

Kane County Resources

The Kane County Development Department says the best place to find local help in navagating the state and national bureaucracy are the by clicking the links to the following LOCAL Small Business Administration offices:

Elgin Community College SBDC

College of DuPage SBDC

Waubonsee Community College SBDC