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Business Interruption Grants
The state will launch the first round of Business Interruption Grants (BIG) by providing $60 million to businesses experiencing losses or business interruption as a result of COVID-19 related closures. Specifically, the program includes support for:
- Businesses in DIAs - $20 million for businesses that are located in a subset of DIAs that have recently experienced significant property damage, providing 1,000 grants of $20,000 each
- Bars and Restaurants - $20 million for bars and restaurants unable to offer outside service, providing 1,000 grants of up to $20,000
- Barbershops and Salons - $10 million for barbershops and salons, providing 1,000 grants of $10,000 each
- Gyms and Fitness Centers - $10 million for gyms and fitness centers that have lost significant revenue due to COVID-19, providing 500 grants of $20,000 each
WHEN TO APPLY: DCEO will make the application for BIG available on Tuesday, June 23rd.
For more information, please view https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/C19DisadvantagedBusGrants.aspx
US SMALL BUSINESS ADMINISTRATION
Disaster loan information at https://disasterloan.sba.gov/ela/Information/Index
Information for small businesses affected by coronavirus at www.sba.gov/coronavirus
All coronavirus-related federal government resources: www.usa.gov/coronavirus
Business owners can apply for a loan now at https://disasterloan.sba.gov/ela/
Other Resources:
- SBA Disaster Loan Information
- SBA Disaster Loan Process
- SBA Loan Eligibility
- US Chamber Loan Checklist
- Small Business Loans and Grants Checklist
- Small Businesses can get COVID relief
- SBA Disaster Assistance Response
- SBA Loan Application
STATE OF ILLINOIS
State Treasurer’s Office is launching in partnership with Illinois financial institutions to assist small businesses and non-profits impacted by the COVID-19 pandemic.
For background, here is a link to the Treasurer’s website that explains this program in greater detail: bit.ly/SmallBizRelief.
Other Resources:
- Bar & Rest State Q&A
- State Treasurer Loan Program
- State Treasurer News Release
- Three Step Process Disaster Loans
- Emergency Loan Operations
- Paid Leave Programs
- Economic Injury Loans
The state of Illinois has created two additional programs to assist small businesses: the Hospitality Emergency Grant Program and the Illinois Small Business Emergency Loan Fund. Program information can be found at https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/EmergencySBAIntiatives.aspx
ADDITIONAL RESOURCES
Choose DuPage has put together a list of DuPage Business Resources Related to Covid-19 https://choosedupage.com/dupage-business-resources-related-to-covid-19/
IL Small Business Development Center at College of DuPage https://www.cod.edu/business-development-center/sbdc/index.aspx
Yes Villa Park has a list of restaurants that are open for pick-up and delivery https://www.yesvillapark.com/