• 6/22/2020
    Below please see an updated list of funding resources available for Berwyn businesses. These funding resources range from new grants available from the state to TIF programs and recent tax incentive programs. 

     

    A continuación, vea una lista actualizada de recursos de financiación disponibles para las empresas de Berwyn. Estos recursos de financiación van desde nuevas subvenciones disponibles del estado hasta programas TIF y programas recientes de incentivos fiscales.

     

  •  
    On Wednesday, June 17th, Governor Pritzker announced new grant programs that will prioritize small businesses that have been heavily restricted or completely shut down during the COVID-19 pandemic, and located in disproportionately impacted areas. 
     
    Specifically, the program includes support for:
     Businesses in DIAs - $20 million for businesses that are located in a subset of DIAs that have recently experienced significant property damage, providing 1,000 grants of $20,000 each
     
    • Bars and Restaurants - $20 million for bars and restaurants unable to offer outside service, providing at least 1,000 grants of up to $20,000 each
     
    • Barbershops and Salons - $10 million for barbershops and salons, providing 1,000 grants of $10,000 each
     
     Gyms and Fitness Centers - $10 million for gyms and fitness centers that have lost significant revenue due to COVID-19, providing 500 grants of $20,000 each
     
    This program is a lottery, and we encourage all Berwyn businesses that have been impacted to apply. The application will close on July 7th, 2020. 
     

     

     
     
  • Our Finish Line Grant program is now available to every commercial property in our TIF Districts for a second year running. 
    
    What does this mean for you? If you're a for-profit business that has operated in Berwyn for 2 years or longer, you're potentially eligible for matching grant funds. Eligible expenses include marketing and build-out of your physical space. Here is what you could be eligible for:
     
    • Marketing match of 50%, up to $500 max
    • Buildout/Facade/Signage match - 50% of the first $10,000, plus 40% of the second $10,000, for up to $9,000 max
     
    This new program has more than $500,000 total available, and we're trying to maximize the business benefit. If you're interested, you can download the application below.
     
    Please contact Brett Michaelson at brettm@berwyn.net with any questions.
     

    Nuestro programa Finish Line Grant ahora está disponible para todas las propiedades comerciales en nuestros distritos TIF por segundo año consecutivo.

    ¿Qué significa esto para ti? Si es una empresa con fines de lucro que ha operado en Berwyn durante 2 años o más, es potencialmente elegible para fondos de subvención equivalentes. Los gastos elegibles incluyen el marketing y la construcción de su espacio físico. Esto es lo que podría ser elegible para:

    Coincidencia de marketing del 50%, hasta un máximo de $ 500
    Buildout / Facade / Signage match: 50% de los primeros $ 10,000, más 40% de los segundos $ 10,000, hasta un máximo de $ 9,000

    Este nuevo programa tiene más de $ 500,000 en total disponibles, y estamos tratando de maximizar el beneficio comercial. Si está interesado, puede descargar la aplicación a continuación.

    Póngase en contacto con Brett Michaelson en brettm@berwyn.net con cualquier pregunta.

     
     
  •  El gobernador JB Pritzker anunció el miércoles un nuevo fondo de recuperación de coronavirus de $900 millones de dóalres que ayudará a las familias y empresas perqueñas y de Illinois.
     
    El programa verá $20 millones destinados a empresas en áreas desproporcionadamente afectadas, $ 20 millones a bares y restaurantes que no pueden ofrecer servicios al aire libre, $ 10 millones a peluquerías y salones de belleza y $10 millones a gimnasios y gimnasios durante la primera ola de subvenciones.
     

     

  • "Thinking about installing or retrofitting your sprinkler system? You're in luck! New tax law allows you to deduct this installation or retrofit from your taxes in the exact same year (rather than the previous 39-year depreciation schedule). The eligible purchase amount was also increased to $1 million.
     
     
    "¿Está pensando en instalar o modernizar su sistema de rociadores? ¡Tiene suerte! La nueva ley fiscal le permite deducir esta instalación o modernización de sus impuestos exactamente en el mismo año (en lugar del programa de depreciación anterior de 39 años). El monto de compra elegible También se aumentó a $ 1 millón.

     

  •  


    Paycheck Protection Program and the forgiveness provision.

    5/6/2020

     

    The BDC has received a number of questions regarding the Paycheck Protection Program and the forgiveness provision for recipients. The below is intended as guidance only. Please speak with your lender on specifics.

     

    To receive maximum forgiveness, the following criteria must all be met:

    1. Funds must be used during the 8 weeks after the funds are disbursed (in other words, from the day you receive the funds).
    2. At least 75% of the funds must be used for eligible payroll expenses. A full list of eligible expenses can be found on the SBA website: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
    3. During the 8 weeks, no more than 25% can be spent on eligible non-payroll expenses. These include interest on mortgage payments, rent, and utilities. For a full list, please check with the SBA and/or your lending institution.

     

    Forgiveness could be reduced if these provisions are violated. Reductions could also occur if employment numbers drop below average levels from 2019, if funds are spent on ineligible expenses, or if funds remain unspent after the initial 8-week period.

     

    Borrowers will be required to pay back the portion of the loan that is not forgiven. Payments will not be required on the remaining portion until 6 months after the date of initial disbursement. Interest will continue to accrue during this period, at the rate of 1% annually.

     

    The most important part of the Paycheck Protection Program is working with your lender. Keeping accurate records on how and when the funds are spent will ensure that all program participants can maximize their benefit, both for their business and employees.

     

    Please contact Brett Michaelson at brettm@berwyn.net with any further questions.