CHICAGO –  In light of the ongoing struggles faced by small businesses due to the COVID-19 pandemic, the federal government has once again extended the application deadline for the Paycheck Protection Program, and State Senator Ram Villivalam (D-Chicago) is encouraging struggling business owners to apply for a potentially forgivable loan.

“While we are in the midst of reopening our state’s economy, there are still many local small business owners who are struggling to get by due to the pandemic,” Villivalam said. “Many business owners are worried about being able to support their families, pay their employees, and keep their doors open. Forgivable loans through the Paycheck Protection Program will allow them to keep their business running and ease the burden of the financial hardship they are facing.”

Villivalam represents the 8^th State Senate District, which is composed of likely the largest concentration of Jewish, Asian American, Irish American, Assyrian American, and other immigrant populations in the state. He is proud to represent a district made up of a variety of constituents from diverse cultural backgrounds and believes it is what allows the communities he represents to succeed. 

“I’m proud to represent such a diverse district,” Villivalam said. “You can travel within a five-mile radius and be able to find restaurants that serve warm rotis and dosas, hot matzo ball soup, fresh perogies and crispy fried chicken. Our district continues to thrive due to this diversity. I urge you when you are grabbing dinner this week, picking up groceries or looking for the latest fashion, that you take the time to shop locally and support our local businesses during this unprecedented time.”

The Federal Treasury Department and the U.S. Small Business Administration extended the application deadline for the Paycheck Protection Program to assist struggling business owners. Businesses can get up to $10 million in financial relief on a first come, first served basis. Under the extended deadline, businesses can apply until August 8.

If used as intended, the loans will not have to be repaid. More than 27,000 Illinois businesses have already taken advantage of the loans. According to the Small Business Administration, these loans have saved an estimated 1.36 million jobs. 

The interest rate on PPP loans stands at 1% and will be forgiven in full if used toward payroll costs, rent, utilities, or interest on mortgages. To find participating lenders, business owners and managers should visit the Small Business Administration’s website, HERE. 

CHICAGO – State Senator Ram Villivalam (D-Chicago) has obtained nearly $1 million in funding for new projects that will benefit the Chicago and Northwest suburban Jewish community under the Rebuild Illinois statewide construction plan.

“The district I represent is home to a very large portion of the Illinois Jewish community, and this funding will help critical Jewish organizations increase their capacity during and after the pandemic,” Villivalam said. “It is important to also note that the allocation of resources to our local Jewish organizations will support everyone in our community for years to come as these organizations provide food assistance, emergency assistance, home care, child care, recreational activities, and so much more to all of our residents.”

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Census Bureau estimates Asian Americans as fastest growing demographic in the state

CHICAGO– Reacting to news that the Census Bureau has identified Asian Americans from countries like India and China as the fastest growing demographic group in Illinois, State Senator Ram Villivalam (D-Chicago) vowed to continue to vigorously support Asian Americans, both recent immigrants and those who have been here for generations.

“We need to ensure Asian Americans have access to all of the same state services as other Illinois residents,” said Villivalam, the first Asian American elected to the Illinois Senate and the Co-Chair of the Illinois General Assembly’s Asian American Caucus. “Making sure documents and websites are available in Asian languages is an important first step, and one that I’ve been pushing especially hard during the COVID-19 pandemic.”

According to the Census Bureau, Illinois’ Asian American population has increased by 24% since 2010, with Asian Americans now making up 5.7% of the people in the state.

“People who come from Asian cultures are helping increase the diversity and vibrancy of American culture,” Villivalam said. “The days of Asian Americans only living on Devon Ave., in Chinatown and in other nationality-based enclaves are over. Now, you see temples, shrines, mosques, and restaurants serving food from across the Asian continent in cities big and small.”

Villivalam vowed to use his position as the first Asian American elected the Illinois Senate to help educate his colleagues about the Asian American community and to help bring the community’s long-unrepresented perspective to all levels of Illinois government. Since joining the Senate, he has helped steer additional funding to support the Asian American community’s infrastructure needs by facilitating the creation of a Pan Asian American Community Center and an Asian American Chamber of Commerce, passed a law creating the Asian American Family Commission, and sponsored other measures targeted at the unique needs of Asian Americans and Asian immigrants.

Villivalam also views the announcement that Asian Americans are the fastest growing group in Illinois as a reminder of how important it is to fill out the census.

“If the Asian American community wants to have the representation it deserves in government and its fair share of federal resources, we all need to fill out the census,” Villivalam said.

CHICAGO — State Senator Ram Villivalam (D-Chicago) is encouraging everyone who may have have had a change in their finances after four months of the COVID-19 crisis to take advantage of the available free credit reporting websites.  

“When the pandemic hit, many people suddenly lost their jobs or experienced other income loss, placing an unanticipated burden on their finances and potentially affecting their credit scores,” Villivalam said. “It’s important for everyone to be aware of their credit score due to the impact that bad credit can have on a person’s financial future.” 

As Illinois slowly recovers from the economic devastation caused by the pandemic, Villivalam is urging everyone to double check their credit scores and to know where their finances stand. Everyone is eligible to receive their weekly credit report for free through Equifax, Experian and TransUnion until April 2021. For more information, please visit www.AnnualCreditReport.com. 

“Managing your finances is stressful, yet this free service to check your credit score will at least provide a baseline for where you stand,” Villivalam said.