$85 million available for small businesses impacted by COVID-19, civil unrest
SPRINGFIELD — The Illinois Department of Commerce and Economic Opportunity announced this week that it will soon start releasing funds from two grant programs aimed at helping small businesses that have suffered losses due to the COVID-19 pandemic and civil unrest that occurred during recent protests over racial injustice.
The administration is releasing $85 million through the Business Interruption Grant program and the Rebuild Distressed Communities grant program.
According to a release from DCEO, the first round of Business Interruption Grants, or BIG, will make $60 million in federal COVID-19 relief funds available for 3,500 businesses such as bars, restaurants, barbershops and salons, health and fitness centers as well as businesses in areas where there have been reports of property damage from civil unrest.
The grants will range from $10,000 to $20,000 and will be available to businesses that have suffered significant losses due to restricted operations, mandatory closures or property damage.
In addition to the BIG program, another $25 million will be made available through the Rebuild Distressed Communities program to support businesses that have suffered damage from civil unrest that occurred on or after May 25.
