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Illinois Small Business Development Center at SIU

Coronavirus (COVID-19) Small Business (SB) Resource Links/Referrals

 Description

Source

Contact Information/URL

Federal Government updates

United States Government

https://www.usa.gov/coronavirus

and in Spanish at https://gobierno.usa.gov/coronavirus

List of guides, info/resources from:
CDC, SBA, OSHA, Facebook, Intuit (QB), Google

America’s Small Business Development Centers

https://americassbdc.org/coronavirus-information/

IRS

Internal Revenue Service

https://www.irs.gov/coronavirus

The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. This page will be updated as new information is available. Other information about actions being taken by the U.S. government is available at https://www.usa.gov/coronavirus and in Spanish at https://gobierno.usa.gov/coronavirus.

https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers

Unemployment Insurance FAQ and Letter to Employers

 

Illinois Dept of Employment Security (IDES)

https://www2.illinois.gov/ides/Pages/COVID-19-and-Unemployment-Benefits.aspx

 

SBA Economic Injury Disaster Loan (EIDL) APPLICATION

SBA

www.sba.gov/disaster 

1-800-659-2955

disastercustomerservice@sba.gov

 

Basic Economic Injury Disaster Loan Info
Program description, requirements, eligibility check

Benefits.gov

https://www.benefits.gov/benefit/1504

Small Business Guidance & Loan Resources Info

SBA

www.sba.gov/coronavirus

Small Business COVID-19 Relief Program – Invest Illinois

Illinois Treasurer Office

https://illinoistreasurer.gov/Invest_in_Illinois/

*SBA Bridge Loans up to $25K

SBA

SB should contact their current SBA lender to see if they offer either SBA Bridge Loan or their own product

*SBA (7a) Borrowers

SBA

  • Deferrals are available to all SBA Borrowers not already in default/liquidation status.
  • Lenders have the unilateral Authority to defer up to six consecutive months payments for loans not sold on the secondary market or up to three months for those that are sold.
  • If a sold loan requires more than three months deferment, you need only request approval from the Investor through the Fiscal Transfer Agent (Colson), info@colsonservices.com
  • SBA Information Notice

 

*SBA 504/CDC Borrowers

SBA

SB with SBA 504 loans should contact their CDC to discuss payment deferral options, eligibility and monthly deadlines.
Prior to granting approval, CDC must obtain, review and analyze:
· Statement from the Borrower outlining the reason(s) for its cash flow problem,
· Current financial statement, preferably on SBA Form 770

· Borrower’s last year-end financial statement and If the Borrower has any  affiliates, a current consolidated financial statement

· Business Federal Income Tax Returns

· Personal Federal Income Tax Returns

Illinois COVID-19 Emergency Small Business Assistance Initiatives

State of Illinois, Illinois DCEO

https://www2.illinois.gov/dceo/

Facebook Grants
Facebook has announced they will be providing $100 million in cash grants or advertising to small businesses.

 

Rhonda Abrams,
The Planning Shop

For more information go to www.facebook.com/business/boost/grants ; Applications accepted beginning March 31st

Kiva Loans
The nonprofit organization Kiva provides 0% interest loans to small businesses worldwide. They are expanding eligibility and the amount of loans provided during this crisis.

Rhonda Abrams,

The Planning Shop

For more information, go to  https://www.kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic

Quickbooks/GoFundMe
Small Business Relief Initiative

QuickBooks is committing up to $1 million through a fund and employee-directed contributions while also seeking donations from other large partners. If you're a small business impacted by COVID-19 or want to help a local business, you can start a GoFundMe fundraiser.

3/24/20
Intuit Email Blast

1.      Visit Small Business Help to start your free GoFundMe page.

2.      Share your fundraiser with your community, using #SmallBizRelief to spread the word.

3.      Learn more about how the Small Business Relief Initiative will support these fundraisers, boosting contributions from your supporters.

Families First Coronavirus Response Act

(aka “Paid Sick Leave”)

Legislation Passed 03/18/2020
Effective 04/02/2020

3/24/20
The enrolled bill: https://www.govinfo.gov/content/pkg/BILLS-116hr6201enr/pdf/BILLS-116hr6201enr.pdf

Key small business issues addressed 3/23/2020 by the Treasury Department:  https://home.treasury.gov/news/press-releases/sm952 Emergency Sick Leave, Emergency Family Leave and Employer Tax Credits are the major areas addressed. DOL has not operationalized directions for compliance or exemptions for small business, but they have updated the following as of 3/24/2020 https://www.dol.gov/.

.

Comprehensive List of Agency Links for Businesses
(Ctrl+Click to follow links)

U.S. White House
March 24, 2020

·       Interim Guidance for Businesses and Employers

·       Information for Communities, Schools, and Businesses

·       Environmental Cleaning and Disinfection Recommendations – Community Facilities

·       SBA: COVID-19 Resources

·       SBA: Local Assistance Finder

·       SBA: Economic Injury Disaster Loan Program

·       DOL: Guidance for Preparing Workplaces for Coronavirus

·       DOL: OHSA Resources for Workers and Employers on COVID-19

·       DOL: Coronavirus Resource Guide

·       DOL: American Job Center | Look for Work

·       DOL: Unemployment State Specific Resource Finder

·       DOL: Layoff Help | Worker Reemployment

·       WHO: Get Your Workplace Ready for COVID-19

·       CISA: Risk Management for COVID-19

·       EPA: Disinfectants for Use Against COVID-19

o   PDF

 

 

SBDC Office Update

Starting Wednesday, March 18, 2020, staff from the Illinois Small Business Development Center at SIU and the following SIU Research Park offices will be working remotely until further notice.  SIU Research Park buildings will be closed to the public and accessible only to tenants and staff with key fob access.

Most services will still be available through alternate formats.  For your convenience, see the list of office contacts below.  Staff will be available by email and/or phone during regular business hours, Monday thru Friday, 8 a.m. – 4:30 p.m. Thank you for your interest in the programs and services of the SIU Research Park. We look forward to hearing from you and working with Southern Illinois--one business at a time.

 The Illinois Small Business Development Center at SIU is still open and advising clients!

All work is being done remotely via video, phone and email.  If you have questions, contact sbdc@siu.edu, Greg Bouhl greg@siu.edu or Ken Stoner kstoner@siu.edu (618-536-2424)

SIU Research Park and Business Incubator Tenants

Administrative Questions: Lynn Andersen Lindberg lindberg@siu.edu (618-453-6754)

General Questions: Deb Barnett dbarnett@siu.edu (618-453-3849)

Facilities Questions or Requests: Amy Ortiz aortiz@siu.edu (618-453-1495)

Business Office Questions: Lynn Harbert lharbert@siu.edu  (618-453-6752) 

Illinois Procurement Technical Assistance Center at SIU

ptac@siu.edu (618-536-2424)

Office of Workforce Innovation and Research and Illinois Nurse Aide Testing

Tom Hovatter cobra7@siu.edu (618-453-4367)

Illinois Manufacturing Excellence Center

Lori Amerman lamerman@imec.org  (618-453-3829) 


COVID-19 RESOURCES FOR SMALL BUSINESSES 

Helping Businesses in Southern Illinois Start, Grow and Succeed 

The Illinois Small Business Development Center at Southern Illinois University provides no-cost, confidential, one-on-one business advising services, training opportunities and business resources for entrepreneurs in southern Illinois. 

The Center's Certified Business Advisors assist business owners at every stage, whether they are starting, struggling, growing or selling. The advisors provide professional guidance for business growth by offering assistance and resources in areas such as business planning, marketing, financing, financial analysis, e-commerce, product development and more.

Funded by the U.S. Small Business Administration (SBA), Illinois Department of Commerce and Economic Opportunity and Southern Illinois University, the Illinois Small Business Development Center at SIU has been a trusted resource to serve small businesses owners in southern Illinois since 1984. 

Ready to see how the SBDC can help your business?  Sign up to become a client to get started!

Starting a Business?

Have a great busineess idea but not sure what to do next? We offer business assistance and training for start-ups in areas such as legal structure selection, licensing, and permitting, market research, site selection, business plan creation, business financing, just to name a few services.

Learn more about our assistance for starting a business in Illinois >

Growing a Business?

Growing a business can be challenging. Our advisors can provide assistance with growth services such as  managing cash flow, branding, establishing personnel policies, marketing plans, creating an exit plan and business financing for expansion projects. 

Learn more about our business growth assistance >

Buying or Selling a Business?

Interested in buying an existing business or selling the one you have?  Our advisors can provide assistance with resources to help determine preliminary valuations to know what a business is worth, reviewing financial statements and more.

Our team of professional advisors are not only advisors but also small business owners with diverse backgrounds and expertise in a variety of areas such as business planning, business financing, financial analysis, prototype development, e-commerce, and intellectual property, among others.

Impacts of the Illinois SBDC at SIU in 2019 included:

  • Advising 358 clients
  • Providing 2,251 hours of consulting
  • Helping 31 entrepreneurs create new businesses
  • Assisting 15 business expand
  • Helping create 84 jobs and retain 76 jobs
  • Loans and investments totalling $7,313,461
  • Held 29 business workshops, training 433 participants

In addition to the business services of the Illinois SBDC at SIU, there is assistance to help businesses sell their products and services to the government through the Illinois Procurement Technical Assistance Center at SIU.

There is also assistance to assist businesses export their products and services throughout the world with the International Trade Centers in addition to all the Small Business Development Centers located throughout Illinois and the U.S. Find the nearest Center to you. 

Whatever questions you have or business goals you want to achieve, the Illinois Small Business Development Center at SIU can help.  Feel free to give us a call at 618-536-2424 or Contact Us to set up a free, confidential one-on-one advising appointment to see how we can help you start, grow and succeed.

 

Illinois Small Business Development Center   U.S. Small Business Administration