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Our firm can answer your questions about your options under the CARES Act.

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DuPage County Immigration Attorneys

DuPage County Small Business Lawyers

Attorneys Providing Legal Guidance for Businesses Affected By the Coronavirus in Cook, DuPage, Kane, and Will Counties

DuPage County Immigration Attorneys

The COVID-19 pandemic has had a massive effect on people and businesses throughout the United States. Due to stay-at-home orders and social distancing requirements, many businesses have had to close their doors or limit their operations. In many cases, even businesses that have been able to remain open have suffered a loss in revenue due to job losses and other financial struggles that many consumers are facing.

To help address these negative effects on the economy, the federal government has passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This law has implemented a number of options that will allow businesses to obtain relief that will ensure that they can continue operating and pay employee wages during this difficult time. Read on to learn more about these options, and contact our attorneys at 630-875-1700 if you have any questions.

Economic Injury Disaster Loans

A business that is struggling during the coronavirus crisis may apply for an Economic Injury Disaster Loan (EIDL) of up to $2 million. These lower-interest loans may be used to cover expenses that a business normally would have been able to pay, including employee wages and operating expenses.

Within three days after applying for an EIDL, a business may receive an emergency advance of $10,000, known as an Emergency Economic Injury Grant (EEIG). This advance will not need to be repaid. EIDLs are available to sole proprietorships, independent contractors, cooperatives, and tribal small businesses with 500 or fewer employees, and businesses that meet the SBA's size standards may also be eligible. A business may be eligible for an EEIG if it has been in operation since January 31, 2020, and it will need to demonstrate a loss compared to the same period in 2019.

If you are interested in applying for an EIDL, our attorneys can help you understand your options and requirements, and we can assist in the application process. Contact us at 630-875-1700 to learn more about how we can assist your business.

ImmigrationEEIGs available through 12/31/2020

ImmigrationGrants will be backdated to 1/31/2020

ImmigrationSome credit requirements have been waived

ImmigrationPersonal guarantee may be required

Paycheck Protection Program


The Paycheck Protection Program (PPP) has provided qualifying small businesses with loans of up to $10 million to be used for payroll costs, employee benefits, and some other expenses, such as rent and utilities. Up to eight weeks of payroll costs can be forgiven, and certain other expenses may also be eligible for forgiveness. The maximum amount of a PPP loan is 250% of a company's average monthly payroll costs.

Recipients of PPP loans can apply for forgiveness by submitting a PPP Loan Forgiveness Application to the Small Business Administration (SBA). This application provides instructions for calculating the amount of the loan that can be forgiven. It also includes a list of documents that must be submitted to support the calculations of payroll and qualifying non-payroll costs, as well as the records that a business will need to retain for six years after the date the loan is forgiven or paid in full. To learn how our attorneys can help you complete and submit this application, contact our office at 630-875-1700.


Economic Injury Disaster Loans:

  • Provides cash for operating costs
  • Term of loan: 30 years
  • Interest rate: 3.75% for businesses and 2.75% for non-profits
  • Repayment begins one year after disbursement
  • Apply through the SBA
  • Personal guarantee required for loans over $200,000

Paycheck Protection Program:

  • Provides capital for covering employee-related costs
  • Term of loan: 10 years (for amount not forgiven)
  • Interest rate: up to 4%
  • Repayment begins six months after disbursement
  • Apply through a lender
  • No personal guarantee required

Frequently Asked Questions

What Expenses Are Eligible for Relief?

An EIDL may be used to cover payroll, sick leave, increases in production costs due to disruptions in the supply chain, and obligations such as debts, rent, or mortgage payments. A PPP loan may cover payroll costs including compensation of up to $100,000 per employee, sick leave and vacation or family leave, group health care benefits, retirement benefits, and state and local payroll taxes, as well as rent, utilities, and interest on debts or mortgage obligations.

How Is PPP Loan Forgiveness Calculated?

The PPP loan forgiveness application uses a three-part calculation to determine the amount of the loan that can be forgiven. First, the amounts the business spent on payroll and qualifying non-payroll costs during the eight weeks after receiving the PPP loan are listed. Next, adjustments to the forgiveness amount may be made if pay for employees was reduced by more than 25% during this time or if the same number of full time equivalent (FTE) employees had not been brought back to work. Finally, a calculation is performed to determine whether the payroll costs make up at least 75% of the forgiveness amount.

What Non-Payroll Costs Can Be Forgiven on a PPP Loan?

Qualifying non-payroll costs fall into three categories: mortgage interest payments, rent or lease payments, and utility payments. Rent or lease payments may cover both real estate property and personal property used by the business, such as office equipment or vehicles. Utilities may electricity, water, gas, transportation, and telephone and internet service, as long as these services began before February 15, 2020.

What Documentation Is Needed on a PPP Loan Forgiveness Application?

Businesses must document payroll costs by providing reports from bank accounts or payroll services, tax forms, and receipts or account statements documenting employer contributions to employee health insurance and retirement plans. Non-payroll costs can be documented through lender amortization schedules for mortgage interest payments, copies of lease agreements, and evidence that utility services existed prior to February 15, 2020, as well as receipts for payments made, bank account statements, invoices, and canceled payment checks.

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