COVID-19 resources

Last updated: June 24, 2020

Latest updates:
June 24: goodFAQ: Illinois phase III COVID-19 reopening
June 11: The Paycheck Protection Program Flexibility Act Summary
May 16: SBA has released a form of the PPP loan forgiveness application.
May 14: SBA announces safe harbor for PPP loans under $2 million.
May 1: Paycheck Protection Program and Health Care Enforcement Act provides additional funding for SBA programs and a warning from the SBA to large businesses.

Use the links below to navigate directly to a section of interest

goodFAQ: Illinois phase III COVID-19 reopening
The Paycheck Protection Program Flexibility Act
SBA loan programs
Paid sick leave and expanded FMLA under the FFCRA
Illinois Small Business Emergency Loan Fund
Chicago Small Business Resiliency Fund
EEOC guidance
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
Additional resources

The economic disruption and uncertainty surrounding the coronavirus / COVID-19 pandemic create enormous stress, and for startup founders and small business owners – whose resources are stretched thin even in the best of circumstances – the stress is especially acute.

goodcounsel is tracking legal developments closely and will post updates to this page as more information becomes available. We will also post any non-legal information and links that we think might be helpful. Please bookmark this page (Command + D on Mac, Ctrl + D on Windows) and check back regularly.

As always we are here to help. To reach us, please use the short form on the left side of this page.

goodFAQ: Illinois phase III COVID-19 reopening

Federal, state, and local governments have issued rules for Illinois phase III office reopening. Federal rules are guidance, not legal requirements. State and local authorities have not made it clear whether their rules constitute legal requirements or merely guidance. Neither Illinois nor Chicago have fully published guidance on the remaining phases.

Read about the various requirements of Illinois phase III COVID-19 reopening here.

The Paycheck Protection Program Flexibility Act

The federal government enacted the Paycheck Protection Program Flexibility Act to provide borrowers under the Paycheck Protection Program (PPP) a longer window during which to use loan proceeds and more time to repay loans, as well as to loosen the requirements for loan forgiveness.

Read more here about the Paycheck Protection Program Flexibility Act.

SBA loan programs

With the passage of the Keeping Workers Paid and Employed Act (part of the CARES Act), there are now two loan programs that small businesses can consider:

  • Paycheck protection loans. These are a variety of the traditional SBA “section 7(a)” loans, the terms of which have been amended by the Keeping Workers Paid and Employed Act to increase loan amounts and to allow for substantial forgiveness of principal and interest.
  • EIDLs. Working capital loans (known as Economic Injury Disaster Loans or EIDLs) to help small businesses and non-profit organizations of all sizes that are adversely impacted by a disaster, including COVID-19.

Read more here about these SBA loan programs.

Emergency paid sick leave and family/medical leave expansion under The Families First Coronavirus Response Act

The Families First Coronavirus Response Act (FFCRA) was signed into law on March 18, goes into effect on April 2, and unless extended, will expire on December 31.

The FFCRA contains a variety of provisions directed at providing assistance to mitigate the effects of the COVID-19 pandemic. The two main components that affect employers are the Emergency Paid Sick Leave Act (“Emergency PSLA”) and the Emergency Family and Medical Leave Expansion Act (“Emergency FMLA”).

For a more detailed description of Emergency PSLA and Emergency FMLA provisions applicable to small business, see here.

Illinois Small Business Emergency Loan Fund

A new Illinois Small Business Emergency Loan Fund, which will provide small businesses outside of the City of Chicago with low-interest loans of up to $50,000, has just been announced (March 27). These loans will be at 3% interest and payments deferred for six months. Additional loan terms and eligibility requirements can be found on the description page.

Applications will be accepted starting April 1. If you are interested, submit an “expression of interest” on the website and you will be contacted regarding an application.

Chicago Small Business Resiliency Fund

The Chicago Small Business Resiliency Fund (CSBRF) is a combined effort of the City of Chicago and corporate and charitable partners to help qualifying small businesses survive the COVID-19 outbreak by providing them low-interest loans. Community Development Financial Institution partners will administer the funds.

For more information about qualifying for a loan from the CSBRF please click here.

EEOC guidance

The Equal Employment Opportunity Commission (EEOC) has put out a webpage entitled What You Should Know About the ADA, the Rehabilitation Act, and COVID-19. It collects helpful resources, including a link to a publication written for flu pandemics and recently updated for COVID-19 called Pandemic Preparedness in the Workplace and the Americans With Disabilities Act.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

With appropriations of $2 trillion, The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is the largest relief legislation ever enacted by Congress. This is a massive bill, and we are working on digesting it so that we can share with you the provisions of greatest interest

For detailed resources, see here.

Additional resources

On this page, we are collecting links to other resources that might be of interest relative to COVID-19.



Contact Us