Illinois State Senate District 44 issued the following announcement on Sept. 18.
The Business Interruption Grant Program was established to provide relief to small businesses across the state who have experienced losses due to the ongoing COVID-19 pandemic.
The first wave of grant funding gave priority to small businesses that were heavily restricted or completely shut down during the pandemic and are located in DIAs. In that wave, more than 2,800 business received funding relief.
Now, DCEO will begin accepting applications to disperse the nearly $200 million in remaining funds for the grant program. The second wave of grant funding will be open for small businesses statewide.
Over half the remaining funds will be prioritized for businesses in downstate counties that did not receive their own Coronavirus Relief Fund allocation. Special consideration will also continue to Disproportionately Impacted Areas, with at least $70 million being earmarked for businesses located in DIAs. Approximately $60 million will also be set aside for business in a set of Heavily Impacted Industries.
Eligible businesses will include for-profit and nonprofit entities with $20 million or less in annual revenue in 2019 (annualized for businesses that started after January 2019). All businesses that receive a BIG award must have experienced losses due to COVID-19 that exceed the size of the award, up to $150,000.
For all applicants, priority will be given to businesses that:
Did not receive PPP or other forms of emergency aid from the CARES Act or the State.
Are located in DIAs.
Are subject to mitigation measures implemented by the state or local governments due to COVID resurgence.
Have less than $5 million in annual revenue.
Experienced revenue losses since March exceeding 50%.
Original source can be found here.
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