Small Business Majority has created a comprehensive state policy agenda to ensure entrepreneurship is at the center of a thriving and inclusive economy in Illinois. It’s critical that state lawmakers enact policies that support and empower these entrepreneurs, guaranteeing they have access to capital to start and grow their business, affordable and quality healthcare and benefits programs that will make it easier for them to attract and retain talented employees.
Small Business Majority writes in opposition to the Regulatory Sandbox Act (HB 2825), which would permit a range of financial institutions to test unlicensed financial products on consumers, including entrepreneurs. We believe this legislation would open up small business owners and entrepreneurs to predatory lending practices.
Small Business Majority writes in opposition to HB 2042, which would extend short-term, limited duration health insurance from the current 181 days to 366 days. We believe this legislation would help undermine a robust individual marketplace, which is vitally important for owners and employees of small businesses without group coverage, especially the roughly one million solo-entrepreneurs in Illinois.
Small Business Majority writes in support of the Wholesale Importation of Prescription Drugs Act (HB 1441), which would create a program to provide lower cost prescription drugs from regulated Canadian suppliers to Illinois consumers. We believe this legislation will help millions of healthcare consumers in Illinois, including many small business owners and solo entrepreneurs.
Introduction: Build your wealth and secure your health
As a small business owner, we know you wear many hats—from running the day-to-day operations of your business, to managing employees, building a brand and much more. And for aspiring entrepreneurs, this can mean juggling a traditional job while navigating the ins and outs of starting a new venture. One thing many entrepreneurs feel unequipped to deal while starting or running a business is how to handle business finances and maintain health.
The Illinois Secure Choice Savings Program, signed into law January 2015, will help small businesses that struggle to offer retirement benefits to their employees and provide retirement security to the 2.5 million Illinoisans who do not have access to an employment-based retirement plan. Below is an overview of what small businesses need to know about the program.
SomerCor is a non-profit development company certified by the Small Business Administration (SBA) to originate SBA 504 loans in the State of Illinois. Since its inception in 1992, SomerCor has grown to be one of the premier mission-driven small business lenders in the Chicagoland area and expanded its offerings beyond the SBA 504 program. SomerCor is a SBA Community Advantage lender offering loans between $50,000 - $250,000. SomerCor is also the administrator for the City of Chicago's Small Business Improvement Fund program and Neighborhood Opportunity Fund Grant.
The Anacostia Economic Development Corporation (AEDC) is a Community Development Corporation that was established in 1969 to meet the overall economic needs, and to improve the quality-of-life circumstances, of the District of Columbia residents. Over the past 45 years, AEDC and its subsidiaries have been at the forefront of small/minority business development, commercial revitalization, housing development, job creation and venture development to serve residents who live East of the Anacostia River and the District of Columbia at-large.
Geraldine “Geri” Sanchez Aglipay manages Small Business Majority's outreach, education and policy efforts in the Midwest region and Greater Chicago to enhance financial capacity and health security for small business owners, their employees and their families.