- Home
- Doing Business
- Economic Support During COVID-19
Economic Support during COVID-19
ComEd Financial Assistance Options: Help for customers when they need it most
Illinois Department of Financial and Professional Regulation Announces Help for Consumers
Restore Illinois: Phase 3 Guidelines for Reopening Business and Returning People to Work Safely
Executive Order No. 20-4
An Executive Order has been issued allowing Temporary Outdoor Dining and Consumption of Alcohol for Restaurants in Vernon Hills.
Executive Order to Allow Outdoor Dining
State Guidelines for Restaurants Bars
Vernon Hills Outdoor Seating Guide
Vernon Hills Outdoor Seating Application
The Coronavirus Aid, Relief and Economic Security (CARES) Act provides:
DIRECT FINANCIAL ASSISTANCE
- $1,200 in one-time payments to most adults making less than $75,000 per year, or $2,400 to most married couples making less than $150,000 per year
- An additional $500 per child under 17 years of age
- Reduced by $5 for each $100 a taxpayer’s income exceeds the income threshold with complete phaseout at $99,000 for individuals and $198,000 for joint filers
- These payments will be issued by the IRS via direct deposit and will be based on 2019 or 2018 tax return or 2019 Social Security statement.
- If someone has not filed a tax return in 2018 or 2019 and does not receive Social Security benefits, the IRS recommends filing a 2018 return to receive payment. If the IRS does not have the taxpayer’s bank account information, the taxpayer should look for a letter from the IRS detailing how to receive their payment
EXPANDED UNEMPLOYMENT INSURANCE
- The federal government is increasing state unemployment insurance payment rates by $600 per week for the next four months
- Many more Americans are now eligible to receive payments, including:
- Self-employed workers
- Freelancers
- Independent contractors
- Gig workers
- Part-time workers
- Parents who must care for their out-of-school children
To apply for unemployment insurance in Illinois, file your claim on the Illinois Department of Employment Security website.
SMALL BUSINESS ASSISTANCE
- $377 billion provided to the Small Business Administration to help businesses with fewer than 500 employees -- including emergency grants, loans, and debt-forgiveness -- up to $10 million per business.
- Paycheck Protection Program that provides low-interest loans that could be forgiven if meeting certain requirements are met, such as employee retention
- $10 million in funding for $10,000 emergency disaster grants available in as few as 3-days for businesses needed immediate capital
- These resources are in addition to previously existing disaster loans. Learn more about how to apply on our “Help for Small Business” site.
- Federal Paycheck Protection Plan (PPP) for Small Businesses
- Small Business Guidance & Loan Resources
SUPPORT FOR HEALTH CARE SYSTEMS AND STATE & LOCAL GOVERNMENTS
- $200 billion investment in hospitals, health systems and health research, including for purchases of additional Personal Protective Equipment (PPE) and testing supplies.
- $150 billion for state and local governments on the front lines of the coronavirus response for the resources they desperately need during this emergency.