- Published: Wednesday, July 01, 2020 08:59 AM
Assistant Majority Leader Tony Munoz (D-Chicago) announced the Illinois Dept. of Commerce and Economic Opportunity (DCEO) has released applications for two grant programs aimed at providing economic relief for businesses and communities impacted by the COVID-19 crisis.
The new Business Interruption Grant (BIG) and Rebuild Distressed Communities programs total $85 million and will provide relief for thousands of businesses affected by the ongoing pandemic. These programs are part of a $900 million effort to restore communities hit hardest by the pandemic. Both programs offer priority for small businesses located in disproportionately impacted areas (DIAs)—low-income areas that have experienced high rates of COVID-19 cases—as well as businesses in communities damaged by recent civil unrest.
In the first round of funding, the BIG program will make $60 million available for 3,500 businesses—including restaurants, bars, barbershops, salons and fitness centers—that experienced losses or business interruption due to closures or restricted operations during the COVID-19 outbreak. The program also offers funding to businesses in DIAs that have suffered property damage as a result of recent civil unrest. More information on the BIG program is available here.
The Rebuild Distressed Communities program is a $25 million economic recovery program to support Illinois businesses that have sustained property damage as a result of civil unrest during protest and demonstrations on or after May 25. Funds may be used to cover structural repairs, improve electrical systems and restore exterior work.
To help businesses take advantage of these opportunities, DCEO will conduct a series of webinars and outreach to businesses in the coming weeks. See here for a list of upcoming webinars and to sign up for regular updates on grants and other business assistance programs.
Applications for both programs are due July 7. More information on eligibility and how to apply can be found on DCEO’s website.