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In This Issue:
- SBA Small Business Loans
- Business of the Year to be Announced Soon
- Restaurant Week March 20-30, 2026 - Taste the Globe in 10 Days!
- Cook County's BRITE Program
- Business Resources
- Free Webinars & Seminars
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The SBA's 7(a) Loan Program for Small Businesses - Like Yours!
The 7(a) Loan Program, SBA’s primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for: - Acquiring, refinancing, or improving real estate and buildings
- Short- and long-term working capital
- Refinancing current business debt
- Purchasing and installation of machinery and equipment, including AI-related expenses
- Purchasing furniture, fixtures, and supplies
- Changes of ownership (complete or partial)
- Multiple purpose loans, including any of the above
The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs. This also includes recommending you for an SBA 7(a) Working Capital Pilot (WCP) loan, if your business qualifies. Learn more about eligibility and how to apply HERE. _______________________________________________________________________
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The 2025 Hanover Park Business of the Year to be Announced Soon!Congratulations to the NomineesOur local businesses are the heartbeat of the community – providing goods and services, jobs, and revenue for the community. Many of our businesses also help support local charities, schools, and sports teams. Residents were encouraged to nominate businesses they feel have served Hanover Park with their community involvement, great customer service, and a positive image and appearance. For 2025, twelve businesses were nominated: A&A Music Academy Brandy's Gyros Carsmart Country Style Donuts Hanover Park Community Bank Issa's Venezuelan Restaurant Los Two Brothers Mexican Restaurant Midas Pentair Filtration Systems My Celebration Party Room SB Wine & Spirits Valexity Technologies Members of the Economic Development Committee will interview each nominee and evaluate nominations this month to determine a winner. Businesses will be judged in several categories including community involvement, customer service, and positive image and appearance. Once chosen, the winner will receive an award from the Mayor at the 2026 Village Awards Presentation dinner, be featured on the Village’s Facebook pages, included in the next Business Matters newsletter and the March /April edition of the Hi-Lighter newsletter. Thank you all for being an important part of our community and for choosing Hanover Park as your business home! _______________________________________________________________________
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Ready for Restaurant Week 2026?Participate, create special offers, and gain new customers!
Hanover Park's 3rd annual Restaurant Week is coming soon - be sure to be a part of it! This event is a great way to increase sales, draw in new customers, highlight menu specialties, build customer loyalty, and strengthen our local business community. To be included in the Hi-Lighter newsletter (mailed to every address in Hanover Park) please complete a participation form and submit your restaurant's logo (as a JPEG or PNG only) NO LATER Monday February 2, 2026. Restaurants can still participate any time up to the week of the event - just submit a participation form and you will still be promoted on the Village's Facebook page and Hanover Park Eats page. WHY Participate?In addition to Restaurant Week’s economic benefits, your business will enjoy Hanover Park’s marketing and media exposure benefits for several weeks leading up to the event: - In print: The Hi-Lighter, the Village’s premier newsletter which is delivered to every household in Hanover Park, local newspapers, and partner newsletters.
- On social media: Village’s Facebook pages
- On websites: Bartlett Area Chamber of Commerce, Northwest Hispanic Chamber of Commerce, Village of Hanover Park, and other Hanover Park partner organizations.
- Email: Multiple announcements to residents, businesses, and in our Business Matters newsletter
Menu Tips & SuggestionsNot sure what to offer during Restaurant Week? Here are some simple ideas to offer customers: - Offer a certain % off all orders (20% or more is suggested)
- Create Daily Specials at reduced prices
- Offer a free dessert or free appetizer with meal orders
- Have Buy One Get One Free offers on your menu
- Create a special menu item available only during Restaurant Week
Questions? Contact Kathy Sjodin or Adela Boesel at 630-823-5780 or email CDevelopment@hpil.org
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Grant Funding thru the BRITE ProgramThe Cook County Department of Environment and Sustainability’s (DES) free Businesses Reducing Impact on the Environment (BRITE) program helps businesses reduce their environmental impact while creating a healthier environment for their employees, customers and community by offering on-site assessments to reduce pollution. Once an assessment has been completed, eligible businesses will have the opportunity to apply for grant funding. This funding will go towards solutions that save money, reduce impact on the environment and modernize operations. - Any business is eligible for the assessment that meets the following requirements:
- Is located in suburban Cook County
- Is a dry-cleaning facility, auto body or auto repair shop, metal finisher, metal fabricator, or food and beverage manufacturer
- Have an up-to-date Certificate of Operation and maintain compliance with Cook County's Chapter 30 Environmental Code
To be considered for the grant, businesses must meet the above requirements as well as: - Be a small business (500 or less full-time employees).
- Been financially affected by the COVID-19 pandemic with proven loss of revenue.
- Been in operation prior to January 1, 2020.
Cook County has allocated $10 million to launch the BRITE program and subsequent grant opportunities. CLICK HERE TO COMPLETE THE INTEREST SURVEY FOR THIS PROGRAM.
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Resources for Your Business The Village's Website Has Help at Your Fingertips!Did you know you can access a wide array of resources to help your business succeed right on the Village's website? Direct links are listed for business advising, hiring & training, non-profit, cultural, and technology resources. Take advantage of the help that is available right at your fingertips! There are also a variety of LEGAL SERVICES available in Hanover Park: - Alianza Hispana (630-233-1460) - taxes, immigration and "Know Your Rights" assistance
- Lopez & Sanchez Attorneys at Law (847-893-9106) - labor, employment, and immigration legal services
- Law Offices of Levato & Kotche (630-736-0300) - general legal services
- R. Mark Maritote Law Firm (630-830-9300)- personal injury legal services
- Christina M. Ranallo Attorney at Law (630-289-2900) - general legal services
- David Belden Attorney at Law (630-837-6130) - real estate legal services
Also... Our monthly BUSINESS MATTERS newsletter is available here. Ongoing FREE WEBINARS & SEMINARS are available here. Libraries and community colleges typically only serve businesses in their service area. Don't know which service area you are in? Look it up in our property search portal on our homepage! _______________________________________________________________________
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Upcoming FREE Webinars to Help Your Business
Webinars and seminars can be very helpful to continually improve your business and make it more successful. The Village has a Webinars & Seminars page on its website that is updated regularly with helpful topics that you may find useful for your business. You can find it here https://www.hpil.org/848/Business-Seminars-Webinars Sessions are hosted by various organizations including the WBDC, the Small Business Administration, Connect DuPage, Cook County, IL DCEO, the Illinois Restaurant Association, and more. The vast majority of webinars are FREE! Here are just a few upcoming webinars: - Jan. 12 @ 12-1pm - 8 Steps to Increased Exposure on Google
- Jan. 13 @ 9:30-10:30am - Bookkeeping 101 for Your Business
- Jan. 13 @ 11am-12:30pm - Small Business Taxes for 2025 & 2026
For details on any seminar or to register, go to https://www.hpil.org/848/Business-Seminars-Webinars ______________________________________________________________________
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Questions? Please Contact Hanover Park Community & Economic Development
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