Governor Pritzker announced another round of funding for small businesses. Starting tomorrow afternoon, applications for the second round of the Business Interruption Grants Program will be available.
The Business Interruption Grant (BIG) program was developed by Governor Pritzker and the Illinois General Assembly to provide economic relief for small businesses hit hardest by COVID-19.BIG leverages federal funding provided by the CARES Act to help offset COVID-19 related losses for Illinois small businesses. Funding may be used to help businesses with working capital expenses, including payroll costs; rent; utilities; and other operational costs as defined in the eligible cost list and full details found in this link. During the first round, six businesses in the Knox and Warren county area received grant funding.
A total of $220 million will be made available for small businesses of all types in Illinois. The next round of 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. An application will be made available tomorrow afternoon at the link above. It is suggested that you review the application questions and required documentation needed to complete the application ASAP (see below links).
ROUND 2 APPLICATION DETAILS:
- VIEW: Round 2 Application Questions
- VIEW: Round 2 Application Checklist
- VIEW: Business Certification Form and Eligible Cost List
- VIEW: Guidance for BIG Awards and Other Federal Support Such as PPP and EIDL (Non-Duplication of Benefits)
- VIEW: Round 2 Detailed Eligibility Criteria (Coming soon)
***Report Courtesy of the Galesburg Area Chamber of Commerce***
