Belt advances bill to address financial disparities in Illinois

SPRINGFIELD – State Senator Christopher Belt advanced a measure out of the Senate Executive Committee Wednesday that aims to identify and correct inequities some individuals face when seeking loans, mortgages or other financial services.

“Access to fair lending services, reasonable banking and other financial assistance is fundamental to economic development and stability,” said Belt (D-Swansea). “However, there are many communities across the state that face systemic barriers and disparities that hinder their ability to fully participate in the economy such as running a successful business or owning a home.”

Senate Bill 3235 builds off of previous legislation that incentivizes state-regulated financial institutions to meet the financial service needs of areas where there is a lack of access to affordable banking, credit for small businesses, reasonable interest rates, mortgages and other lending services.

Read more: Belt advances bill to address financial disparities in Illinois

Belt advances measure to enhance consumer protections for small businesses

SPRINGFIELD – State Senator Christopher Belt advanced a measure out of the Senate Financial Institutions Committee that would provide better financial protections for small businesses in the state.

“Our small businesses are what makes the community thrive, and it is essential that we provide them with the necessary tools and protections to thrive,” said Belt (D-Swansea). “With more transparency in lending practices, we are empowering small business owners and creating an equitable business environment.”

Senate Bill 2234 would create the Consumer Protections for Small Business Act, which would provide protections for small businesses when taking out a loan by requiring key financial terms such as the amount financed, fees and the annual percentage rate be clearly disclosed at the time an online or non-bank provider makes an offer for a loan.

“No small business should have to encounter predatory lending,” said Belt. “With this measure, we are safeguarding these businesses from unfair and deceptive practices, in turn creating more support and well-being for our state’s small business community.”

Senate Bill 2234 now awaits consideration before the Senate.

Belt commends over $750,000 for Belleville, East St. Louis pre-apprenticeship programs

EAST ST. LOUIS – State Senator Christopher Belt announced that two organizations in his district have received funding through the Illinois Works Pre-Apprenticeship Program.

“We must remain dedicated to promoting diversity in the trades, which is exactly what this funding will do,” said Belt (D-Swansea). “Expanding the reach our trades have will empower individuals with valuable skills while ensuring our workforce is inclusive and representative of our communities.”

The Illinois Department of Commerce and Economic Opportunity awarded over $18 million in grants to 36 recipients through the Illinois Works Pre-Apprenticeship Program, including $355,542 to Southwestern Illinois College in Belleville and $440,000 to Teens Against Killing Everywhere in East St. Louis. The program creates a diverse pool of talented and qualified candidates in construction and building trades, and helps participants secure employment and establish a career in the field.

The Illinois Works Pre-Apprenticeship Program launched in 2021 with the goal of increasing diversity and access to apprenticeship programs. Pre-apprenticeship programs are comprehensive and help participants gain admission to apprenticeship programs, which provide a greater opportunity for obtaining employment in the construction trades and securing a lifelong career.

“This funding represents a critical investment in the future success of our communities,” said Belt. “We’re creating pathways for our residents to gain expertise and contribute to the workforce meaningfully, helping to create a stronger, more affluent society.”

To learn more about the grant funding and view the full list of recipients, visit here.

Belt, Hoffman secure over $900,000 for Belleville transit providers

BELLEVILLE – Two transit providers in Belleville were awarded more than $900,000 to offer safe, reliable and accessible transportation options, thanks to support from State Senator Christopher Belt and State Representative Jay Hoffman.

“These new vehicles will play a crucial role in expanding transportation services and improving mobility for residents in our community,” said Belt (D-Swansea). “Access to transportation is fundamental to our quality of life and this funding is investing in the well-being of our residents who need transportation assistance.”

Through the Consolidated Vehicle Procurement Program, administered by the Illinois Department of Transportation, more than 500 paratransit vehicles valued at $57.1 million have been awarded to 113 transit providers. The vehicles will be delivered to public transportation providers as well as nonprofit organizations serving seniors and individuals with disabilities.

Read more: Belt, Hoffman secure over $900,000 for Belleville transit providers