Business grant deadline Tuesday
The Department of Commerce and Economic Opportunity (DCEO) is informing small businesses and communities that the application period for the Business Interruption Grant (BIG) program will close at 5pm on Tuesday, December 15.
DCEO and its grant administration and outreach partners are reminding small business owners to get their application in if they haven’t already. Applying is easy, and DCEO along with its grant administrators Accion and WBDC have developed a menu of resources and technical assistance to help small businesses in need qualify for grants. Resources and more info are available HERE.
DCEO has received over 40,000 applications through the program since it launched in June. Since that time, the department has issued $168 million to over 6,300 small business owners spanning over 500 cities around the state with more awards going out in the coming days.
The State of Illinois anticipates that it will award the remainder of the $270 million in funds through this program in the coming weeks. DCEO will continue to follow the funding priorities outlined under the program including reaching heavily impacted industries, businesses located in a disproportionately impacted areas (DIAs) and downstate communities, and small businesses with annual revenues of $5 million or less and/or businesses that have not received other forms of emergency assistance like PPP.
BIG was created by Governor Pritzker and the General Assembly in response to the unprecedented burdens COVID-19 has placed on small businesses around the state. BIG grants, leveraging federal CARES Act dollars, provide grants tailored to business losses, with amounts ranging between $5,000-$150,000. The average grant provided to date is $25,000. Grant funds may be used toward operational expenses, including PPE, rent and utilities, payroll, and more.
For more information on BIG eligibility, how to receive assistance with submitting your application, and to review the application, please visit DCEO’s program website.