Tammy Duckworth: Small business in my district losing $400k a day because of shutdown

SHARE Tammy Duckworth: Small business in my district losing $400k a day because of shutdown

U.S. Rep. Tammy Duckworth (D-Ill.) said just as businesses in her district were looking toward an economic recovery, the federal government shutdown and debt ceiling debate are threatening to deliver another blow.

And it may be hitting her district harder than any other in the state.

That’s because the 8th Congressional district, which covers portions of DuPage and suburban Cook counties, is the top area awarded Small Business Association loans — and among the top 20 nationwide.

“We have the largest business park in North America in Elk Grove Village and the largest concentration of tool and die in the United States,” Duckworth said.

Duckworth’s office says businesses in her district typically receives about $390,000 a day from SBA loans.

(To see small business impact by district click here)

So with a hold-up in applications, that’s nearly $4 million on hold or lost in two weeks. Her office says that’s the most in the Illinois delegation and 19th out of 435 for the entire House.

A good majority of the firms in the 8th congressional district employ 50 to 150 people. The loans can be used to hire another worker, to buy equipment and to repair a business — some are even used to finance their payroll.

Some businesses were looking to these federal loans to help prop them up after suffering from flooding last Spring, she said.

“They’re more vulnerable to external forces, in the labor market, in the global economy. If you’re a 100-person firm, you’re more vulnerable to a contract being canceled,” Duckworth said. “These SBA loans are really critical for the businesses especially in the Des Plaines, Addison area because some of them are using them to recover from the floods in April and May.”

The Latest
We are ready to move forward for the betterment of our collective communities. Let’s do right for all of our children who call the Near South Side home.
DeSantis’s scheme to manipulate vulnerable people seeking asylum in our country is evidence that the cruelty wielded by Trump and embraced by so many of his followers will continue to poison our politics.
The ruling is saving taxpayers $180,000 in raises the two legislators were trying to claw back. But the former state senators had petitioned the court to include all current and former legislators, which could have cost state taxpayers $10 million or more.
The person was taken to Stroger Hospital in critical condition, officials said. An officer was taken to Mount Sinai Medical Center but did not suffer a gunshot wound, officials said.
Our streets can and should evolve over time to meet the needs of our communities.