Is your business impacted by coronavirus (COVID-19)?

Know that we are at the table, representing you and our beloved district. We are working on solutions that reduce regulatory burden and provide financial relief.

As always, please reach out to me at President@TheMagnificentMile.com with questions, concerns and tips. Stay safe. Together, we will get through this.

From our city, state and national partners.

Latest Updates

Applications for the Chicago Small Business Resiliency Fund are now open.

The City of Chicago has established the $100 million Chicago Small Business Resiliency Fund (the Resiliency Fund), which will provide small businesses and non-profits with emergency cash flow during this health crisis. Funds will be provided to eligible businesses as low-interest loans available on a first-come, first-serve basis.

Apply now >>


Due to the recently passed federal stimulus package, your business may be eligible for aid from the federal government.
  • Paycheck Protection Program – The U.S. Small Business Administration (SBA) will provide $349 billion in loans through the Paycheck Protection Program to small businesses and non-profits. Portions of these loans will be forgiven to the extent that recipients maintain their existing workforce or rehire. Learn More>>.
  • Economic Injury Disaster Loan – The program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. Borrowers can request an emergency advance of $10,000 within 3 days of submitting the application and do not have to repay the advance if they are denied a loan. Learn More>>
  • Subsidy for Current Loan Payments – The SBA will cover up to 6 months of principal and interest payments that are owed on most existing SBA loans. Learn More>>
  • Aid to Midsize Businesses and Nonprofits – $454 billion will be available from the U.S. Treasury to provide financial assistance through loan programs established by the Federal Reserve. As part of that, a special fund is dedicated to midsize businesses and nonprofits with 500-10,000 employees to provide financing to banks and other lenders to make direct loans to these entities. The interest rate on those loans would be capped at 2%, with no payments due for the first six months. These loans cannot be forgiven.

    Significant restrictions will be placed on the midsize business and nonprofit assistance, such as prohibiting paying out dividends while the loan is outstanding. More guidance will be forthcoming from the U.S. Treasury on additional criteria and funding access.

More:

To mitigate immediate economic fall-out:

  • The City of Chicago is extending the due date to April 30 for City taxes, including the Amusement tax, Hotel Accommodation tax, Restaurant Tax and the Parking Tax.
  • Governor Pritzker has directed the Department of Revenue to defer sales tax payments for more than 24,000 small- and medium-sized bars and restaurants through May.
  • Governor Pritzker said Illinois will move its state income tax deadline back three months to July 15, aligning it with the extended federal tax deadline.

 

Governor Pritzker has launched a website to update the public on the state's evolving response to COVID-19:

  • Governor Pritzker is directing healthy citizens to a state website to match their skills with organizations that work with the homeless or seniors, or deliver meals.
  • Governor Pritzker started the Illinois COVID-19 Response Fund to support nonprofits and other groups that work with "those hit hardest by COVID-19," providing emergency food and basic supplies, interim housing, health care services, assisting with utility costs and supporting children and families.
  • Governor Pritzker outlined supply concerns across the state. He said ventilators, masks, hospital gowns, hand sanitizer and other supplies are badly needed. Have items to donate? Email PPE.donations@illinois.gov.

 

Chicago's Office of Emergency Management and Communications has provided a social media toolkit from the City of Chicago about the state-wide Stay At Home Order, which is now in effect.

 

We salute our district's first responders.

The Magnificent Mile Association is committed to providing the latest resources.

We are here to help!

Businesses
Individuals
  • Get answers to your questions around unemployment benefits.
    • Unemployment Insurance claims can be filed with the Illinois Department of Employment Security by phone (800)-244-5631 or online
    • Web-based orientations, tutorials, digital literacy courses, and one-on-one career counseling are available for jobseekers from the Chicago Cook Workforce Partnership. Access those services here
    • Similarly, consultative services for employers including hiring, lay off aversion, rapid response (layoff support) and training resources remain available through the Business Services Teams.  Access these services here.
  • Take care of yourself and your family.
Medical Information
Free Webinars

The Chicago Department of Business Affairs & Consumer Protection (BACP) will host a webinar to provide an overview of the Chicago Small Business Resiliency Fund, loan terms, requirements, and how to apply.

  • Tuesday, March 31 at 10:00 AM - English
  • Tuesday, March 31 at Noon - English
  • Tuesday, March 31 at 2:00 PM - Polish

To register, please visit: www.chicago.gov/businessworkshops

More webinars from our members:
  • "Interactive Sports Movement Screening" home exercise recommendations from Aligned Modern Health on Wednesday, April 1
  • "Coffee with Impact" from Impact Networking to cover remote work and collaboration tools on Thursday, April 2.
  • "TZO Learning Lab" with TimeZoneOne, a one-hour online strategy session with exclusive marketing guidance as part of your COVID-19 response and strategy on Thursday, April 2.
  • "Art Smart Seminar: Art Fest 101" from Amdur Productions will cover the basics about applying and participating in art festivals and ultimately help you sell more. This is the first part of a two-part series. 
  • "Ask the Experts" at Constellation Energy about COVID-19 and its impact on the energy industry on Wednesday, April 8.
Chicago Help Initiative
  • Volunteer to help assemble "to go" containers on Wednesday, March 25th from 2:00 to 4:00 PM at 721 N. LaSalle St.
  • Donate socks, bar soap and/or hand sanitizer
  • For more information, visit chicagohelpinitiative.org or call Jacqueline at 312-861-1700
 
Greater Chicago Food Depository
  • During the COVID-19 pandemic, the Greater Chicago Food Depository is hard at work responding to the increased need for food. Support their work by making a monetary donation.
  • Individuals who are healthy and meet all other volunteering requirements are needed at the food bank and training center to help prepare food for distribution.
  • Commercial businesses: Need help adjusting your business' energy usage needs? If business operations at your location(s) are changing significantly in response to COVID-19 with impacts to your energy usage, please let your rep at Constellation Energy know right away so they can adjust load forecasts and/or schedule appropriately to avoid additional costs or penalties.
    Learn more >>
  • If you are looking to keep your customers informed with signage, banners, boards and more, we highly recommend Bannerville USA.
    Learn more >>

 

In the Press
  • March 31, 2020

    Retailers Take Proactive Approach to Prevent Looting During Shutdown

    ”This is a global pandemic and we are seeing the same as other cities: retailers’ responses vary from boarded windows to empty storefronts and showrooms. Some have painted or branded their boards, which we appreciate. And we will be looking for ways to encourage other property owners and store managers to do the same,” Kimberly Bares said.

    Read more on Women's Wear Daily.

    Burberry Prepares for Stay at Home Order in response to COVID19

    Full article
  • March 22, 2020

    The Magnificent Mile Association is working to ensure businesses downtown along North Michigan Avenue remain safe and secure as residents “shelter in place.”

    Kimberly Bares, President & CEO, shares the latest on FOX 32 Chicago.

    View More