Illinois State Senate District 16 issued the following announcement on June 17.
Following Gov. JB Pritzker’s announcement that his administration will launch a $636 million Business Interruption Grants program, State Senator Jacqueline Collins (D-Chicago) urged local business owners to apply.
“I applaud the governor’s action , and am gratified to see that one large part of it will be aimed at businesses in disproportionately impacted areas with recent significant property damage,” Collins said. “This shows an understanding of what business owners in these areas are going through and what help they need to stay afloat in light of the once-in-a-lifetime hardship they now face.”
The Illinois Dept. of Commerce and Economic Opportunity will launch a first round of $60 million BIG grant funding for small businesses harmed by the pandemic, many of whom have also seen damage as a result of recent civil unrest. The funds are intended to help small businesses stay viable through the pandemic, help offset the costs of months of being shut down or restricted in their operations, and ensure they have the resources to reopen safely in the near future.
Among other specific programs, DCEO plans to disburse $20 million across 1,000 grants of $20,000 each to businesses in disproportionately impacted area with recent significant property damage. Those who qualify for these grants include:
-Businesses with under $2 million in revenue in 2019, or pro-rated amount if in business for less than a year. Such business must have in operation for at least three months prior to March 2020.
-Applicants who can attest to experiencing costs or losses of at least $20,000 since the Stay at Home order was put in place on March 21, 2020 due to closure or reduced operations as a result of the COVID pandemic.
-Businesses within a subset of DIAs that have experienced recent property damage, exacerbating the economic impacts of COVID.
DCEO and its grant administration partners are scheduled to post applications this week for review and questions, with applications being accepted June 24 through July 1. Applicants who are selected for the grants should hear from grant administration partners by early July, and grants are scheduled to be disbursed by the end of July.
Original source can be found here.
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