Check the NAWBO Chicago Advocacy page regularly for the latest updates.
Advocacy
Our commitment to Advocacy runs deep, and it is what sets us apart from other women’s business organizations.
The National Association of Woman Business Owners (NAWBO) was founded in 1975 in Washington, DC to serve as one voice representing the issues and concerns of woman-owned businesses at the national and state levels for change in the business environment. NAWBO’s goal is to effectively represent the full diversity of the woman business owner community, regardless of industry or company size, and regardless or race, religion, age, abilities, or sexual orientation of the owner.
Each year, NAWBO-National hosts an Advocacy Day and Academy for Public Service in Washington D.C. to encourage NAWBO members to be involved in the democratic process at all levels of government. NAWBO-Atlanta offers regular educational opportunities to learn about local candidates, issues, and policies that affect our professional lives. Together, we work with Congress and the Administration on issues relating to and impacting woman business owners.
NAWBO Chicago Advocacy & Public Policy Updates:
April 12, 2021
PPP Extension:
The U.S. Senate passed the PPP Extension Act of 2021 by a vote of 92-7. This will extend the deadline for PPP applications for another two months to May 31, 2021, and then provide an additional 30-day period for the SBA to process applications that are still pending. The bill now heads to President Biden’s desk to be signed into law. This bill was endorsed by nearly 100 organizations, including NAWBO!
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COVID Economic Injury Disaster Loan (EIDL) Program Changes:
During the Senate Small Business and Entrepreneurship Committee hearing, the SBA made these important announcements.
- They would be lifting the cap from $150,000 to $500,000 for COVID Economic Injury Disaster Loan (EIDL) loans. It will start on April 6th.
- They hope to lift it back to $2 million sometime in April.
- The calculation will be based on up to 24 months of working capital vs. the previous six months.
- If you have already received a COVID EIDL loan, the SBA will email you to provide more details on how you can request an increase in your loan size.
In March, the SBA also announced that businesses now have 24 months from the loan date to start repaying ANY disaster loans made in 2020. For loans made in 2021, payments would begin 18 months after the loan is made.
April 6, 2021
SBAC & NAWBO Chicago - Urge Illinois Politicians To Fund an Improved Small Business Grant Program
President Biden has signed the American Rescue Plan Act (H.R. 1391) into law. Accordingly, the State of Illinois is expected to receive over $7.5 billion in funds to foster recovery from the pandemic. Many small businesses have been devastated by the pandemic. That is why the SBAC and a robust coalition of small business advocates are championing Senate Bill 1982, which will allocate 25% of federal relief funds for grants to small and local businesses. It also sets forth the framework for an improved Business Interruption Grant program.
About 40,000 businesses previously applied for BIG grants but only 8,974 received funding. The process took too long for many businesses which ultimately did not receive a grant. Senate Bill 1982 provides $10,000 grants for businesses with revenue of over $100,000 that can demonstrate a 25% reduction in gross revenue from 2019 to 2020. Senate Bill 1982 provides grants to other eligible small businesses, including those launched right before the pandemic which have thus far been unable to obtain adequate relief. The grants are enhanced for businesses in economically disadvantaged communities.
It is imperative our politicians support small businesses during this crucial time.
Please click here to contact your State Senator and ask them to sponsor Senate Bill 1982.
March 26, 2021
Today, the U.S. Senate passed the PPP Extension Act of 2021 by a vote of 92-7. The bill was introduced by Senate Small Business Committee Chair Ben Cardin (D-Md.) and Senators Susan Collins (R-Maine) and Jeanne Shaheen (D-N.H.).
This will extend the deadline for PPP applications for another two months to May 31, 2021, and then provide an additional 30-day period for the SBA to process applications that are still pending. The House of Representatives passed the bill on March 16 by a vote of 415-3. The bill now heads to President Biden’s desk to be signed into law.
The bill is co-sponsored by Senators Roger Marshall (R-Kan.), Dan Sullivan (R-Alaska), Jacky Rosen (D-Nev.), Lisa Murkowski (R-Alaska), Patrick Leahy (D-Vt.), Ron Wyden (D-Ore.), Thom Tillis (R-N.C.), Jon Ossoff (D-Ga.), Shelley Moore Capito (R-W.V.), Jeff Merkley (D-Ore.), Martin Heinrich (D-N.M.), Rob Portman (R-Ohio), Amy Klobuchar (D-Minn.), and Joe Manchin (D-W.V.).
Representatives Nydia M. Velázquez (D-N.Y.), Blaine Luetkemeyer (R-Mo.), Carolyn Bourdeaux (D-Ga.), and Young Kim (D-Calif.) introduced the bill in the House. The bill was endorsed by nearly 100 organizations, including NAWBO!
March 26, 2021
The Small Business Advocacy Council provided an update on our policy initiative calling for 25% of new federal relief funds to be allocated for Illinois small businesses and an improved business interruption grant process. The SBAC issued a press release which you can view here.Please feel free to share this press release because the more engagement the better! They are working with Senator Fine to amend SB1982 with the policy proposals contained within the press release. The robust number of groups signing on to support this policy is having a big impact. Finally, if you could reach out to your State Senators and ask them to sponsor SB9182 that would be awesome.
March 24, 2021
PPP Extension:
The Senate voted to invoke cloture on the PPP Extension (96-4), so hopefully, they can get it done before they head out for recess next week.
COVID Economic Injury Disaster Loan (EIDL) Program Changes:
During today's Senate Small Business and Entrepreneurship Committee hearing, the SBA made some important announcements:
- Today, the SBA announced that they would be lifting the cap from $150,000 to $500,000 for COVID Economic Injury Disaster Loan (EIDL) loans. It will start on April 6th.
- The SBA also said they hope to lift it back to $2 M sometime in April.
- The calculation will be based on up to 24 months of working capital vs. the previous six months.
- If you have already received a COVID EIDL loan, the SBA will be emailing you in the coming days to provide more details on how you can request an increase in your loan size.
- Earlier this month, the SBA announced that now, businesses have 24 months from the loan date to start repaying ANY disaster loans made in 2020. For loans made in 2021, payments would begin 18 months after the loan is made.
Restaurant Grant Program:
During today's hearing, they didn't give a firm date on the restaurant program's start, but it sounds like they are about a month away from being up and running.
The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.
- All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note.
- All SBA disaster loans made in calendar year 2021, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 18-months from the date of the note.
Existing SBA disaster loans approved prior to 2020 in regular servicing status as of March 1, 2020, received an automatic deferment of principal and interest payments through December 31, 2020. This initial deferment period was subsequently extended through March 31, 2021. An additional 12-month deferment of principal and interest payments will be automatically granted to these borrowers. Borrowers will resume their regular payment schedule with the payment immediately preceding March 31, 2022, unless the borrower voluntarily continues to make payments while on deferment.It is important to note that the interest will continue to accrue on the outstanding balance of the loan throughout the duration of the deferment.
RISE Act Update
In conjunction with our partners at the SBAC, we have some important Springfield updates on this legislation including an upcoming hearing scheduled for March 18th at 3:00 pm. The Illinois Landscape Contractors Association and Home Care Association of America Illinois Chapter have filed witness slips in support of the legislation. We are beginning to gain momentum on this important effort.
Will you contact your state legislators and ask them to sponsor the Rise Act. The bill number is House Bill 801 and Senate Bill SB 2490. It is our understanding that the bills are identical except the House Bill provides an additional $500 for businesses located in disproportionately impacted areas while the Senate bill provides for an additional $1500 incentive. Those differences can be reconciled as the bills progress. Make your voice heard here: https://www.smallbusinessadvocacycouncil.org/2021/02/19/action-call-rise-act/
We have the chance to pass an incentive that will help small businesses retrain and hire individuals who have lost their jobs and businesses because of the pandemic!