Regional Businesses to Avail Grant Opportunity
Illinois Department of Commerce and Economic Opportunity (DCEO) and Governor Illinois have released the applications for two new business and economic recovery programs. The programs will give priority assistance to small businesses heavily impacted by COVID-19 pandemic, for those located in disproportionately impacted areas (DIAs), as well as those in communities damaged by recent civil unrest.
Disproportionately impacted areas (DIAs) are the low-income areas that have face high rates of COVID-19 cases. The programs are part of the grant program series that is designed to help recover the economy impacted by COVID-19.
Businesses experiencing losses or business interruption due to the COVID-19 related closures will be given $60 million as part of the first round of Business Interruption Grants (BIG). 3,500 businesses can avail the BIG Program. DCEO will begin the fund distribution to the qualifying business mid-July. The program is especially for:
- Businesses in Disproportionate Impacted Areas (DIAs) – $20 million- 1,000 grants of $20,000 each.
- Bars and Restaurants- $20 million- 1,000 grants of up to $20,000 each.
- Barbershops and Salons- $10 million- 1,000 grants of $10,000 each.
- Gyms and Fitness Centers- $10 million- 500 grants of $20,000 each.
Key Dates are:
- Applications available for review June 23
- Applications are accepted starting June 26
- Application closes July 7 at 5:00 p.m.