Time is running out to apply for Back to Business Grant funding
Illinois businesses have until next Wednesday, Oct. 13, to apply for the new Illinois Back to Business Grant.
More than 500 grants, totaling more than $24 million, were granted to small businesses in the first wave of awards, the Illinois Department of Commerce and Economic Opportunity announced last week.
The $250-million grant program, which opened to applications in August, offers funds to small businesses to help offset COVID-19-related losses and bring back workers. Awards range from between $5,000 and $150,000 per business, and can be spent to cover a wide range of costs, from operations and staff to overhead.
About $100 million of the grant funding is reserved for businesses located in areas determined to have been disproportionately impacted, which in McHenry County includes the ZIP codes for Harvard (60033) and Richmond (60071).
Most of the remaining funding is targeted at businesses that did not receive previous federal and state assistance. About $30 million is set aside for arts and entertainment venues that did not receive SBA Shuttered Venue Operator Grants, and $25 million apiece is set aside for restaurants and taverns that did not get SBA Restaurant Revitalization Fund Grants, and businesses that did not get state Business Interruption Grant funding because the funds were exhausted.
The state has expanded the community navigator program that assists residents and businesses applying for COVID-related assistance. To find a community navigator near you to help you apply for this new grant, click here.