West Loop Community Organization issued the following announcement on Sept. 16.
A $220 million second round of Business Interruption Grants (BIG) aims to provide relief for all types of small businesses, but with a particular focus on businesses downstate, in disproportionately impacted areas (DIAs), and for heavily impacted industry and regions – representing businesses that have been unable to reopen or operating at a severely diminished capacity since the spring.
The Illinois Department of Commerce & Economic Opportunity (DCEO) will begin accepting applications for the second round of BIG funds afternoon, Thursday, September 17. To help you prepare for your application, see below for guidance.
This second wave of funds includes the following provisions to ensure a wide distribution of funds geographically and across business type:
Heavily Impacted Industries: $60 million for heavily distressed industries, such as movie theatres, performing arts venues, concert venues, indoor recreation, amusement parks, and more.
Disproportionately Impacted Areas: $70 million set aside for DIAs, defined by zip codes identified by the General Assembly for communities that are most economically distressed and vulnerable to COVID-19.
Downstate Communities: DCEO has committed to ensuring that at least half of all remaining funds, totaling more than $100 million, are reserved for businesses in downstate and rural communities of Illinois.
Priority Businesses: Apart from the $60 million for heavily impacted industries, applications from the following types of businesses will be prioritized for review for remaining funds: businesses directly affected by regional mitigations implemented by the state or local governments, independently owned retail, tourism- and hospitality-related industries including accommodations, and more.
Agriculture: $5 million of the remainder of funds will be set aside for livestock production disruptions. Applications will be available in the coming weeks from the Illinois Department of Agriculture.
Grants and Loan Forgiveness for Illinois Small Business Emergency Loan recipients: As authorized by the General Assembly, DCEO will offer grants for businesses that have incurred eligible costs to offset loans received under the Illinois Small Business Emergency Loan program.
Original source can be found here.
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