Politics & Government
Minority Businesses Struggle As Coronavirus Pandemic Continues
More than 40,000 state business owners sought help from the Illinois Hispanic Chamber of Commerce this year.
By Zeta Cross
When the COVID-19 shutdown hit Illinois businesses this spring, the Illinois Hispanic Chamber of Commerce got 40,000 emails from business owners asking for help.
Find out what's happening in Across Illinoisfor free with the latest updates from Patch.
“There has been a major disconnect between small businesses and access to loans and relief programs,” president and CEO Jaime Di Paulo said. Most Hispanic-owned businesses have fewer than 50 employees, he said.
Many of them do not have accountants who can help them apply for the programs. They do not have relationships with major banks who fund the loans.
Find out what's happening in Across Illinoisfor free with the latest updates from Patch.
The Illinois Hispanic Chamber is a small, member-driven organization. It runs an in-house small business development center. The chamber has been able to help 8,000 latino-owned businesses maneuver in the new COVID landscape this spring and summer, Di Paulo said.
The Hispanic Chamber said that the pandemic is a life-or-death struggle for many minority-owned businesses. It is going all in to help as many businesses as they can. Some economists have predicted that when the COVID-19 crisis finally gets under control, as many as 40% of Illinois businesses will have shut their doors.
Di Paulo said retail and restaurant businesses have been particularly hard hit.
The Hispanic Chamber is launching a major effort to provide one-on-one counseling to struggling businesses.
When asked about childcare businesses, Di Paulo said the crisis has meant that childcare providers must limit the number of children that they can admit, so revenues have fallen way.
Illinois has offered a grant program, called The Child Care Restoration Grant. Di Paulo said childcare providers have struggled with the requirements of the grant applications.
“You almost have to be a scientist to figure out how to apply for some of the relief programs,” he said.
The focus of the work of The Center Square Illinois is state- and local-level government and economic reporting that approaches stories with a taxpayer sensibility. For more stories from The Center Square, visit TheCenterSquare.com.
