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COVID-19 Small Business Economic Disaster Loans

We offer assistance preparing and submitting your SBA economic Disaster Loan package, as it is an in-depth package and submitting all the correct information the right way the first time may determine whether or not your loan application is approved by the SBA. It is our loan & tax expertise that we will use to process and submit your loan application to the SBA for you. The SBA has informed us that if a loan application is rejected the business can properly request a reconsideration, if it is rejected then there is a 6 month waiting period to reapply.

We understand the expediency of getting the money into the small business owners hands as quickly as possible during this unprecedented time of businesses forced to close their doors for the safety of the public.

The SBA.gov has announced:

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.

  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19). This will apply to current and future disaster assistance declarations related to Coronavirus.
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
  • Once a declaration is made, the information on the application process for Economic Injury Disaster Loan assistance will be made available to affected small businesses within the state.
  • SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

For questions or to complete an information form, please call us at 833-SBA-C911.

Crisis Leadership Planning

With every small business and nonprofit organization facing economic hardship due to the corona virus aka COVID-19 is the time to provide strong leadership to your business, employees and clients.

It will be your leadership that strengthens your organization, keep your employees abreast of the businesses intentions to help keep them paid or not paid, keeping them in the dark only promotes fear.

We can assist you in planning properly through obtaining government loans, grants, and other benefits being provided through this difficult time to help keep small businesses open.

For questions or to complete an information form, please call 833-SBAC-911.

Business Entity Start Up

Have you thought of starting your own business, S-Corp, LLC or Non-for-profit?

We provide the following service:

  • Discuss the difference between entity choices
  • Open your entity in IL (Other states open to discussion)
  • Provide correct documentation to IRS for S Corp entities
  • Obtain your EIN from IRS
  • Provide you with an Operating Agreement

For questions or to complete an information form, please call 833-SBAC-911.

Strategic Planning

Most businesses will fail without a strategic business plan. Knowing where you are going, and how to get there are key business steps.

If you start a business without a plan your doomed to fail, our experts will help you create a plan that works for your business.

Whether your business is brand new or mature, our team of experts can help. We want you to know what your short-term goals are, what your long-term goals are, and how to get there.

Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy.

We will work with you to:

  • Assess Industry, Competitor & Customer Trends
  • Evaluates your company’s Strengths, Weaknesses, Opportunities and Threats
  • Define Your Mission and Vision
  • Identify Your Corporate Business Goals
  • Review Department Level Objectives
  • Determine Staffing, Budget and Financing Needs

Burke is one of our team experts who has participated in with the IRS Strategic Planning Committee in Washing DC, Governors State University’s strategic planning, and Riverview Pediatrics LLC along with other local entities. She has completed her Doctorate course work in Higher Education: Leadership & Non-for-Profit Organizations (final dissertation is in process).

If you would like a strategic plan for your business, please fill in information

If you would like a Strategic Planning Facilitator for a company event or to complete an information form, please call 833-SBAC-911.

Strategic Tax Planning

Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency. Tax planning is the key to providing effective tax minimization strategies.

Through tax planning, all elements of the financial plan work together in the most tax-efficient manner possible. Tax planning is essential to all small business owners.

At the Small Business Assistance Center, we believe that year-round contact is a critical part of our understanding your goals and objectives.

For questions or to complete an information form, please call 833-SBAC-911.

Tax Preparation

Given the complexity of the ever-changing tax laws and the difficulty of interpreting them, you need a tax adviser who not only can ensure you’ve complied with the law, but who can help you claim valuable deductions and credits. Our tax service has been developed to support the evolving needs of our clients.

Our team has expertise in the following areas:

  • Federal Taxation for all types of Business Entities
  • Personal Tax Preparation
  • Not-for-Profit Entity Tax Preparation
  • Multi-State Tax Preparation
  • Local Tax Solutions
  • R&D Tax Credit
  • Cost Segregation
  • International Tax Matters

For questions or to complete an information form, please call 833-SBAC-911.

IRS and State / Local Representation

Our firm understands the tax laws. We provide complete representation services before the IRS as well as state and local taxing authorities.

  • IRS and State Tax Representation at all levels
  • Delinquent Tax Filings and Preparation
  • Individuals, Business and Payroll Tax Filings
  • Audits/Audit Reconsideration
  • Offer in Compromise
  • IRS Installment Agreements

For questions or to complete an information form, please call 833-SBAC-911.

Small Business Retirement Planning

It is imperative that every small business owner understand and know what options, plans and opportunities are available for their business and their employees. Determine if a 401K plan, a SEP plan or a Cash Balance Plan is best for your organization.

To speak with one of our experienced retirement planners for your small business today, please call 833-SBAC-911.

Public Relations & Marketing

Small businesses and Nonprofit organizations rely on public relations and other marketing communications for a variety of benefits.

A more positive an image a business or nonprofit can cultivate, the more opportunities it will have to achieve its mission and goals. We are here to assist you in planning our PR program and implementing your marketing plan. If you don’t have a marketing plan, we can assist you in creating one.

For questions or to complete an information form, please call 833-SBAC-911.

Payroll Services/Bookkeeping

Payroll 

Payroll Solutions we offer for your business:

  • The ability to process your own payrolls, with guidance from our accounting firm.
  • Run your own payroll anytime, anywhere?
  • A full-service payroll solution priced right for your business.

Our Payroll Solution offers:

Automated payroll processing that allows you simply enter payroll data over a secure Internet connection.

Our payroll application does all the rest. Most importantly, the unmatched benefit of our personal service and our trusted, professional relationship with you.

Our system allows you and your staff to concentrate on growing your business instead of thinking about payroll and taxes. We handle changing tax laws, complex reporting requirements, so you don’t have to.

We provide:

  • Calculations for the federal and all 50 states, plus the District of Columbia and Puerto Rico
  • Handles virtually all pay types
  • Multiple payroll schedules
  • Multiple locations
  • Filing of all quarterly and annual federal and state payroll forms
  • Full array of electronic services including direct deposit, tax payments, and electronic filing
  • Complete year end W-2/1099-M form service
  • Printing of third-party checks
  • Tracking and accrual of sick, personal, and vacation time
  • Full comprehensive set of reports available 24*7
  • Employee portal access for pay stubs and W-2s
  • 401(k) plan administration
    and much more.

Let us help you grow your business and handle your payroll needs. Please contact us to discuss your payroll requirements. We will analyze your needs a design a fully customized payroll service just for your business.

Bookkeeping

 SBAC provides businesses with the following bookkeeping services:

  • General journal and subsidiary ledger maintenance
  • Bank statement reconciliation
  • Receivables and payables tracking and analysis
  • Full Accounting Needs

For questions or to complete an information form, please call 833-SBAC-911.

Non-for-Profit Business Startup

Whether you’re looking to start a small non-for-profit organizations or a large one, our team can help you make the proper state application, apply for an IRS determination/ruling letter that determines your organization qualifies as for *tax-exempt 501(c)3 status under IRS code and obtain an EIN number for your organization.

*Tax-exempt 501(c)3 status means you don’t have to pay taxes on the organization’s income from charitable activities and donors that contribute to your 501(c)3 organization can claim a tax deduction.

Discuss any state registration required for your nonprofit organization.

For questions or to complete an information form, please call 833-SBAC-911.

Non-for-Profit Strategic Planning

Nonprofit strategy is becoming more sophisticated to better reflect the unique character of nonprofits, which includes the need to often consider multiple stakeholders, the potential for collaborations, along with the mixed influences of complex markets.

Even more pressing than the demand for service is the nature of the resource environment; this tremendous complexity in the funding environment given the range of revenue sources affects all donors: grants, one-time contributions, gifts, annual contributions for nonprofit organizations.

Does your non-for-profit need a new face?

Our strategic planning for non-for-profit organizations will look at your mission, your vision, your goals, strengths, weaknesses, your brand, and we will provide guidance and insight to strengthen your organization through strategic planning.

For questions or to complete an information form, please call 833-SBAC-911.

Trusted Partners

Below you will find a number of our trusted partners, from real estate professionals to small business attorneys, technology services and web design.

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