McLean County Board's 2 Financial | McLean County SBDC

***As of 3/30/2020: The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress***

Additional detailed information will be communicated in the days to come on the CARES Act. The federal agencies involved are working diligently to get program rules and processes in place to small businesses as soon as possible. However, it is premature to discuss program implementation specifics of the CARES Act because that work is still being done and program details may change. Our focus at the SBDC is providing our small businesses, lenders, and other small business stakeholders with information that reflects the actual program implementation of the legislation with associated rules and requirements.

The information our center has at this time (as of 3/30/2020) is as follows:

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now.
When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers.
You can view the CARES Act Guide to see information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA.
Struggling to get started? The following questions might help point you in the right direction.
Do you need:
- Capital to cover the cost of retaining employees?
  - The Paycheck Protection Program starting on page 2 might be right for you.
- A quick infusion of a smaller amount of cash to cover you right now?
  - Look into an Emergency Economic Injury Grant starting on page 7.
- To ease your fears about keeping up with payments on your current or potential SBA loan?
  - The Small Business Debt Relief Program starting on page 6 could help.
- Quality, free counseling to help you navigate this uncertain economic time?
  - Look into the resource partners in the Counseling and Training section on page 9.

CARES Act Guide

***As of 3/30/2020: The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress***

Additional detailed information will be communicated in the days to come on the CARES Act. The federal agencies involved are working diligently to get program rules and processes in place to small businesses as soon as possible. However, it is premature to discuss program implementation specifics of the CARES Act because that work is still being done and program details may change. Our focus at the SBDC is providing our small businesses, lenders, and other small business stakeholders with information that reflects the actual program implementation of the legislation with associated rules and requirements.

The information our center has at this time (as of 3/30/2020) is as follows:

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now.
When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers.
You can view the CARES Act Guide to see information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA.
Struggling to get started? The following questions might help point you in the right direction.
Do you need:
- Capital to cover the cost of retaining employees?
  - The Paycheck Protection Program starting on page 2 might be right for you.
- A quick infusion of a smaller amount of cash to cover you right now?
  - Look into an Emergency Economic Injury Grant starting on page 7.
- To ease your fears about keeping up with payments on your current or potential SBA loan?
  - The Small Business Debt Relief Program starting on page 6 could help.
- Quality, free counseling to help you navigate this uncertain economic time?
  - Look into the resource partners in the Counseling and Training section on page 9.

CARES Act Guide

***As of 3/30/2020: Illinois Department of Human Services is assessing the acute needs for PPE items ***

Direct from the Illinois Department of Human Services:

In order to understand the acute needs for Personal Protective Equipment (PPE) among community-based organizations across the state, please consider completing this short survey before April 1.

The survey is designed to more precisely understand statewide PPE needs.
Please note that completing the survey, unfortunately, is not a guarantee that you will receive the supplies, and it is not a purchasing order.
As you fill out the survey, please give your best estimate of need over the next 30-90 days, accounting for both your organization’s staff and customer/client populations.

IL Dept of Human Service - PPE Needs Survey

***As of 3/30/2020: Illinois Department of Human Services is assessing the acute needs for PPE items ***

Direct from the Illinois Department of Human Services:

In order to understand the acute needs for Personal Protective Equipment (PPE) among community-based organizations across the state, please consider completing this short survey before April 1.

The survey is designed to more precisely understand statewide PPE needs.
Please note that completing the survey, unfortunately, is not a guarantee that you will receive the supplies, and it is not a purchasing order.
As you fill out the survey, please give your best estimate of need over the next 30-90 days, accounting for both your organization’s staff and customer/client populations.

IL Dept of Human Service - PPE Needs Survey

***As of 3/30/2020: Illinois Department of Human Services is assessing the acute needs for PPE items ***

Direct from the Illinois Department of Human Services:

In order to understand the acute needs for Personal Protective Equipment (PPE) among community-based organizations across the state, please consider completing this short survey before April 1.

The survey is designed to more precisely understand statewide PPE needs.
Please note that completing the survey, unfortunately, is not a guarantee that you will receive the supplies, and it is not a purchasing order.
As you fill out the survey, please give your best estimate of need over the next 30-90 days, accounting for both your organization’s staff and customer/client populations.

IL Dept of Human Service - PPE Needs Survey

***As of 3/27/2020: Illinois DCEO is calling for your support in donations of PPE items***

Under the leadership of Erin Guthrie, Director, the Department of Commerce & Economic Opportunity (DCEO) recognizes the tremendous impact that the COVID-19 pandemic is having, not only on businesses, but our communities and families as well.

Not surprisingly, during this challenge Illinoisans are stepping up and pulling together. Many businesses and organizations have already reached out to DCEO to offer support, donations and assistance in any way they can. Their contributions are much appreciated by us all. For example, iBio.org a Chicago-based life sciences industry association, is coordinating efforts from among their membership to donate much-needed medical supplies vital for our Illinois communities.

We are asking for your support in providing our hospitals, Illinois doctors and first responders that are in desperate need of items. For donations of personal protective equipment, please email: PPE.donations@illinois.gov.

Here’s the list of items they are looking for:

Ventilators – LTV1200 Vyaire/ReVel Carefusion or BiPAP v60 Phillips Respironics
Masks: N-95, ear loop, or surgical
Gowns: Isolation or non-descript
Gloves: Nitrile, sterile, or surgical
Eye Protection: Face shields and goggles
Infection Control Kits
Hand Sanitizer: Any size
Disinfectant Wipes: Any size
Thermometers: Forehead only

All donated items should be in the manufacture's original packaging and unopened. When emailing items available for donation to PPE.donations@illinois.gov it is essential to list the items’ current location and exact quantity in an “each” type standard as opposed to boxes/pallet, etc. We will then be in touch about the next logistical steps. Please note that if you have smaller quantities of these items, you may redirect or donate to your nearby police, fire, and ambulance services in order to minimize your travel and other logistical steps with your donation.

For non-PPE items, tangible or financial, please email: CEO.BusinessDonations@illinois.gov.

“Make”: Manufacturers who are ramping up or altering their operations to provide more essential items should contact the Illinois Manufacturers Association (IMA) at: https://ima-net.org/covid-19/supplies/

“Sell”: Wholesalers, suppliers, or manufacturers that already have items on hand to sell or will in the future, should contact: COVID.procurement@illinois.gov.

The following items are in greatest need:

N-95 masks
Gloves (non-powdered)
Gowns (impermeable)
Isolation gowns (all sizes)
Surgical masks
Regular masks, ear loop
Procedure masks with face shields
Goggles
Face shields
Sanitizing wipes
Purple-top wipes
Hand sanitizers
Digital thermometers
PAPR hoods
Ventilators – LTV1200 Vyaire/ReVel Carefusion or BiPAP v60 Phillips Respironics

DCEO - Call for Support Website

Illinois Small Business

Development Center of

McLean County at IWU

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McLean County Board's 2

Financial Assistance Programs

Updated as of 10/26

Updated 10/26: Both programs are now 0% interest and forgivable loans.

See the full press release from 10/21/2020 here.
IMPORTANT: this is NOT a grant program, but these amendments did create the opportunity for qualified applicants to have their loans forgiven, and if not forgiven, issued at 0% interest.
Expenses will be forgiven that assist in the adaptation and/or recovery from COVID restrictions:

Supplies - receipts of PPE, sanitation, extending outdoor dining
Technology - receipts of software to increase online sales
Real Estate Improvements - receipts for drive-up or walk-up windows

Forgivable Micro-Bridge Loan Program

The Micro-Bridge Loan is a 0% bridge loan up to $10,000 for nonresidential for-profit businesses under 10 employees in McLean County.
The McLean County Board has allocated $300,000 for this program.
The loan requires a support letter from a lender.
Payments are deferred for 6 months.
The applicant's loan documents will not be public record but rather housed at the EDC.
To learn more, view the list of required documents, and apply visit the Bloomington Normal EDC website

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Forgivable Recovery Loan Program

The Recovery Loan is a 0% gap loan up to $20,000 (20% of total loan) for nonresidential for-profit businesses under 50 employees in McLean County.
The McLean County Board has allocated $300,000 for this program.
The loan requires a partnership from a bank to cover the other 80% of the loan.
Payments are deferred for 6 months.
The applicant's loan documents will not be public record but rather housed at the EDC.
To learn more, view the list of required documents, and apply visit the Bloomington Normal EDC website