Friday, August 13, 2021

Back to Business Grant Program Announced

 Back to Business Grant Program Announced


Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) today announced the $250 million Back to Business (B2B) grant program to support the continued recovery of small businesses across Illinois. The first in a series of economic recovery programs set to launch by the administration, B2B will offer small businesses access to funds that can help offset losses due to COVID-19, bring back workers, and take continued steps to rebuild amid the fallout from the pandemic. The program builds on last year’s Business Interruption Grant program, which provided $580 million to small businesses and childcare providers across the state.


The application portal opens on August 18.

 Funding available:

  • $250 million to small businesses across the state that experienced losses in 2020 due to COVID-19, including the following set-asides.
    • $100 million – Businesses located in Disproportionately Impacted Areas (DIAs). You can view the map here.
    • $30 million – Arts and Entertainment businesses that didn’t receive Shuttered Venue Operators grants
    • $25 million – Restaurants and taverns that didn’t receive the Restaurant Revitalization Fund
    • $25 million – Hotels
    • $25 million – Businesses that didn’t receive a BIG grant due to exhaustion of funds
  • Grants will range from $5,000 to $150,000 per business and can be used to cover a wide range of operations/staff/overhead costs
    • Up to $250,000 for hotels

 Eligibility requirements:

  • Businesses with revenues of $20 million or less in 2019 and a reduction in revenue in 2020 due to COVID-19
    • $35 million or less for hotels
  • Priority will be given to the following categories:
    • Hard-hit industries (see eligibility guidelines for a full list of priority industries and their definitions)
    • Hard-hit areas – DIAs comprising of 176 zip codes
    • Businesses who have yet to qualify for state funding or federal assistance (including the Paycheck Protection Program (PPP), Restaurant Revitalization Fund (RRF), business Interruption Grant (BIG), Shuttered Venue Operators Grant (SVOG), and more)
    • Businesses that had less than $5 million in revenue in 2019
  • Learn about eligibility guidelines

 How to apply:

  • Application Portal opening August 18.
    • Applications can be tracked in real-time
    • Allies for Community Business (A4CB), DCEO's grant administrator, will begin accepting applications on Wednesday, August 18, 2021
  • Documentation needed:
    • Business owner ID (ITIN business owners eligible)
    • Business’s 2019 AND 2020 Federal tax returns
    • Two (2) business bank statements – one from the period April through December 2020, and most recent statement
  • Prepare for the application process early by learning about the information and documents required
    • Application is also available in: SpanishPolishChineseHindi, and Arabic (coming soon)
  • List of Frequently Asked Questions

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Contact: 
Brittney Hogue
brittney@pekinchamber.com

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