SBA loans and COVID
The SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans. See link below.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
The SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans. See link below.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
Message to Employers Regarding Unemployment Fraud
Nationwide, bad actors are using the COVID-19 pandemic as an opportunity to file fraudulent claims for unemployment insurance benefits. Many of these claims involve the theft of employees’ identities. Personal information has been stolen from many different sources in the past years, including computer hacks into the databases of some of the largest companies in the nation. This information can be used to file fraudulent unemployment claims.
It is likely that as an employer, you have recently seen an increase in fraudulent unemployment claims. You are not alone – this has been happening across the country. IDES is partnering with federal, state, and local law enforcement agencies in response. IDES is also partnering with employers to stop fraudulent claims in their tracks. If you receive a Notice of Claim informing you that an individual with a given name and social security number has filed a claim for benefits, please confirm if that individual is still working for you. If so, please ask whether that individual did, in fact, file a claim. We ask that you report to IDES as soon as possible what information you have obtained.
The best way to report fraudulent claims to IDES is by filing a timely protest to a Notice of Claim, giving IDES as much useful information as you can.
Additionally, IDES has an established unit that works specifically on allegations of fraudulent claims. On each day that you are made aware of the possibility of a fraudulent claim, we ask that in addition to filing a timely protest, you send one email with a spreadsheet including the following information for each instance of suspected fraud from that day: The claimant’s first name and last name, the employer name, and the claim ID (all this information is shown on the Notice of Claim). Please send your email to both [email protected] and [email protected]. Again, please ensure this information is included in a spreadsheet attachment – not the body of the email.
We greatly appreciate our partnership with Illinois’ employers to help combat fraud.
Nationwide, bad actors are using the COVID-19 pandemic as an opportunity to file fraudulent claims for unemployment insurance benefits. Many of these claims involve the theft of employees’ identities. Personal information has been stolen from many different sources in the past years, including computer hacks into the databases of some of the largest companies in the nation. This information can be used to file fraudulent unemployment claims.
It is likely that as an employer, you have recently seen an increase in fraudulent unemployment claims. You are not alone – this has been happening across the country. IDES is partnering with federal, state, and local law enforcement agencies in response. IDES is also partnering with employers to stop fraudulent claims in their tracks. If you receive a Notice of Claim informing you that an individual with a given name and social security number has filed a claim for benefits, please confirm if that individual is still working for you. If so, please ask whether that individual did, in fact, file a claim. We ask that you report to IDES as soon as possible what information you have obtained.
The best way to report fraudulent claims to IDES is by filing a timely protest to a Notice of Claim, giving IDES as much useful information as you can.
Additionally, IDES has an established unit that works specifically on allegations of fraudulent claims. On each day that you are made aware of the possibility of a fraudulent claim, we ask that in addition to filing a timely protest, you send one email with a spreadsheet including the following information for each instance of suspected fraud from that day: The claimant’s first name and last name, the employer name, and the claim ID (all this information is shown on the Notice of Claim). Please send your email to both [email protected] and [email protected]. Again, please ensure this information is included in a spreadsheet attachment – not the body of the email.
We greatly appreciate our partnership with Illinois’ employers to help combat fraud.
CDBG COVID-19 Small Business Loan - COMING SOON!
The CARES Act made available $5 billion in Community Development Block Grant (CDBG) funds to be used to prevent, prepare for, and respond to the coronavirus (COVID-19). The Village of Schaumburg’s allocation is $217,873. On July 28, 2020, the village approved the designation of 40%, or $87,149.20, to be used to assist small businesses with retaining their pre-COVID-19 level of employment for low-to-moderate income individuals, where at least 51% of the jobs, computed on a full time equivalent basis, involve the employment of low- and moderate- income persons.
The Village of Schaumburg will provide 50% match, need-based forgivable loans of up to $7,500 for two months of eligible operating expenses and/or workplace protective equipment to small businesses (those with 1-25 full time equivalent employees) that are located within the corporate limits of Schaumburg. The village will begin accepting applications on November 15, 2020. The deadline to submit an application and supporting documents is 4 p.m. December 1, 2020. Every effort will be made to make award decisions by December 15, 2020.
The application will be released on November 2, 2020. For more information on the program, contact Debbie Van Sickle at (847) 923-3852.
https://www.villageofschaumburg.com/business/small-business-resources
The CARES Act made available $5 billion in Community Development Block Grant (CDBG) funds to be used to prevent, prepare for, and respond to the coronavirus (COVID-19). The Village of Schaumburg’s allocation is $217,873. On July 28, 2020, the village approved the designation of 40%, or $87,149.20, to be used to assist small businesses with retaining their pre-COVID-19 level of employment for low-to-moderate income individuals, where at least 51% of the jobs, computed on a full time equivalent basis, involve the employment of low- and moderate- income persons.
The Village of Schaumburg will provide 50% match, need-based forgivable loans of up to $7,500 for two months of eligible operating expenses and/or workplace protective equipment to small businesses (those with 1-25 full time equivalent employees) that are located within the corporate limits of Schaumburg. The village will begin accepting applications on November 15, 2020. The deadline to submit an application and supporting documents is 4 p.m. December 1, 2020. Every effort will be made to make award decisions by December 15, 2020.
The application will be released on November 2, 2020. For more information on the program, contact Debbie Van Sickle at (847) 923-3852.
https://www.villageofschaumburg.com/business/small-business-resources
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