Elmhurst Chamber Of Commerce: ECCI Endorses Push To Go BIG On Small Business Relief

Press release from the Elmhurst Chamber of Commerce:

John Quigley

Mar 18, 2021

Endorsed by the Elmhurst Chamber of Commerce and Industry and Chicago-area chambers, the Small Business Advocacy Council (SBAC) is urging Illinois Governor J.B. Pritzker and state lawmakers to refund the Business Interruption Grant (BIG) Program using 25 percent of the state’s projected $7.549 billion in American Rescue Plan Act federal relief monies.

United States President Joseph R. Biden signed the $19 trillion American Rescue Plan (House Resolution 1319) into law on March 11, with states receiving a total of $195.3B in aid, with each state and the District of Columbia sharing $25.5B evenly and receiving $500 apiece.  Another $168.55B will be distributed based on each state’s share of total unemployed workers.

Led by the SBAC, a coalition of small business advocates seeks refunding of the BIG Program administered by the Illinois Department of Commerce and Economic Opportunity (IDCEO) to assist small and local businesses recover from the Coronavirus (COVID-19) Pandemic, as follows:.

The SBAC also is requesting that businesses that did not receive prior BIG funding have priority over those which did receive said grants.  Also, federal Paycheck Protection Program (PPP) loans and other such relief revenue should not be counted as revenue in determining the eligibility of businesses.

First funded through Illinois’ allotment of the federal $2.2 trillion Coronavirus Aid, Recovery and Economic Stability (CARES) Act, the IDCEO awarded small businesses a total of $249 million in Round 1 and 2 BIG funding.

This press release was produced by the Elmhurst Chamber of Commerce. The views expressed here are the author’s own.