According to a recent article posted by the Illinois State Bar Association (ISBA) by Frank Pellegrini March 2008, the FBI identified house-stealing as “the latest scam on the block.” The agency’s predictions proved true. In its most recent report, the Internet Crime Complaint Center of the FBI (www.ic3.gov) reported that, from 2015 to 2019, there was a …
Proposed amendments to the Illinois Freedom to Work Act (“IFWA”) will limit how employers can use non-competition and non-solicitation agreements. Under the proposed amendments, employers will be prohibited from entering into non-compete agreements with employees who earn less than $75,000 annually [which will increase by $5,000 every five years until 2037]. While the current IFWA …
Changes in Illinois law on Non-Compete and Non-Solicitation Agreements Read More »
The Restaurant Revitalization Fund (“RRF”), Administered By The Small Business Administration, Is Part Of The $1.9 Trillion American Rescue Plan Act Of 2021, Which Was Signed Into Law On March 11, 2021. The RRF Will Offer $28.6 Billion In Grants To Provide Economic Relief To Eligible Restaurants Based On Lost Revenue Resulting From The COVID-19 …
The pandemic has not only caused many of us to struggle, but it has also put our older population at risk financially.
In the past several months, a slew of charges and criminal investigations have been announced for fraud related to COVID-19 relief funds. Most recently, in response to a ruling by a federal judge in Washington, the Small Business Administration was ordered to release records of the recipients of pandemic relief grants and loans. As a …
There is a slew of information circulating online about the new federal relief programs and the best course of action for business owners. Below is a brief overview of the primary federal programs available to impacted business, along with our assessment of the options as they appear today. Federal Relief Programs: There are three primary …
UPDATE: IMPORTANT INFORMATION FOR OUR BUSINESS CLIENTS AFFECTED BY THE COVID-19 PANDEMIC Read More »
A summary of the newest COVID-19 relief bill, the CARES Act, which was signed into law on Friday, March 27, 2020. The latest federal relief package offers significant benefits to nearly all businesses affected by the pandemic. Also included are summaries of two relief programs provided through the State of Illinois and City of Chicago. Although …
IMPORTANT INFORMATION FOR OUR BUSINESS CLIENTS AFFECTED BY THE COVID-19 PANDEMIC Read More »
Late last night, the Treasury Department issued a replacement PPP application form. The changes are minor, but important. The old form is now obsolete. The new application form is attached, and can also be found here: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf. This is causing delays for many PPP lenders. Most notably, the new application expands the business categories to …
Earlier today, we spoke with a representative of the SBA regarding EIDL loans. If you submitted an application for an EIDL loan prior to March 30, 2020, you must refile a new application in order to receive the $10,000.00 emergency advance. Once your application is completed, you should receive the advance in three business days. …
