Subchapter V for Small Business Owners For the past two years, small businesses whose bottom lines were impacted by the onset of COVID-19 enjoyed greater protections while going through Chapter 11 bankruptcy reorganizations in the form of higher debt limits under the Small Business Reorganization Act. That act, passed in…
Business interruption insurance & COVID Should business interruption insurance cover losses due to the COVID-19 shutdowns, even if said insurance policy contains a virus exclusion? A bar and restaurant based in Park Ridge and a former jewelry store in Chicago have gone to the U.S. 7th Circuit Court of Appeals to…
The Illinois Housing Development Authority (IHDA) and the City of Chicago Department of Housing (DOH) have each announced separate Emergency Rental Assistance Programs. Both programs will be funded using the federal COVID-19 relief funds. Owners with non-paying residents in Chicago can apply to both agencies for assistance, but will only…
SBA Restaurant Revitalization Fund Eligible restaurants and other dining establishments are entitled to apply to the U.S. Small Business Administration for a $28.6 billion grant program under the American Rescue Plan Act of 2021, as established in section 5003 of the legislation. The SBA recently released a Program Guide that…
What Can Small Businesses Do About the Maskless? As more states lift requirements that people wear COVID-19 masks indoors when in public, what can small businesses do to protect their employees—and other customers who still prefer to wear masks? As of April 5, more than one-third of states (18) lacked…
How to Prepare for 2021 Wow, 2020 was a year to forget! I hesitate to say it was interesting because it was not. It was more like a nightmare as we coped with a public health crisis, an economic crisis, a political crisis, and a civil rights crisis. Let’s put…
Updated December 7 The Chicago area and Illinois business owners are facing a number of challenges and the CoronaVirus pandemic is threatening the continued viability of their business. Here are some of the more frequently questions asked by business owners. Residential Evictions can proceed under certain conditions The moratorium in…
Tenant Evictions Updated October 19 Gov. J.B. Pritzker issued an executive order on October 16 extending the statewide moratorium on residential evictions for another 30 days. Pritzker first put a hold on residential evictions through an executive order on March 20, the same day he issued a statewide stay-at-home order…
The Key to Surviving as a Small Business How can your business – and you – survive the COVID-19 pandemic? It’s a tall order. But small business owners have means of surviving. The corollary shutdowns have impacted 20% of small businesses, according to the U.S. Chamber of Commerce, and restrictions…
Workman’s Comp for Essential Workers An emergency rule promulgated in April by the Illinois Workers’ Compensation Commission gave certain classes of “essential” workers the ability to claim COVID-19 as an occupational disease vis-à-vis the ability to collect workers compensation. This is a change that every Illinois business should be aware…