CHICAGO (WAND) - Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) released a new round of applications for grant programs to help with the economic impact of COVID-19 on businesses and communities in the state.
The grants include the new Business Interruption Grant (BIG) and Rebuild Distressed Communities grants. The grants are $85 million in total.
“This virus has had devastating effects on the health and livelihoods of our residents, and we must take aggressive action to help our families and communities recover,” said Governor Pritzker. “As our small businesses reopen their doors, these grant programs will provide critical support to allow them to safely expand their operations. We can not recover without our small businesses leading the way, particularly in communities that have been disproportionately impacted by this virus, and this administration is committed to using all resources at our disposal to help them thrive.”
Applications for both grants are due by July 7.
These programs are part of over $900 million recently announced by Gov. Pritzker and DCEO. The money will help communities hit hardest by the pandemic so they can begin to rebuild. Both focus on small businesses who had their businesses closed during the shutdown.
“Small businesses are the backbone of our Illinois economy, which is why the Pritzker administration has continuously taken action to grant critical relief programs the duration of this unprecedented crisis,” said Acting Director of DCEO, Michael Negron. “With many businesses all across our state experiencing hardship from COVID-19, DCEO has worked to marshal funding in a way that reaches across all of our diverse community areas, and that assists those who need it the most. With the new BIG program, the state will ensure those businesses most greatly affected are not left behind as we move forward to a safe, phased reopening of our state and economy.”
BIG grants will make $60 million in funds available for 3,500 businesses that were closed or restricted due to COVID-19. Businesses eligible for BIG include restaurants and bars; barbershops and salons; health and fitness centers; as well as businesses located in DIAs (low-income areas that have experienced high COVID-19 numbers)which have had reports of recent property damage due to civil unrest. For more details on BIG grants, click here.
The second program, Rebuild Distressed Communities, is a $25 million economic recovery program to help business in Illinois that were damaged by civil unrest during protests and demonstrations on or after May 25. The grants will help repair structural damage, including damage to store fronts, improving electrical systems and restoring exterior work.
The Distressed Capital Program will specifically help businesses located in DIAs and will prioritize small businesses, women and minority-owned businesses, underinsured or uninsured businesses, businesses that have a high community impact – such as grocery stores – and businesses in communities that have experienced historic disinvestment. The Distressed Capital Program also includes provisions to encourage BEP contractors, including minority- and women-owned businesses, are the first in line to do the repair work, DCEO said.
DCEO will conduct a series of webinars and outreach to businesses in the coming weeks. For a list of upcoming webinars and to receive regular updates on grants and business assistance programs, please visit DCEO's website of follow us on social at @IllinoisDCEO.
