New grants to help biz impacted by COVID-19

Applications are being accepted for the state’s new Business Interruption Grants Program (BIG) and the Distressed Capital Program. Both programs will give priority to minority-owned businesses, or businesses located in Disproportionately Impacted Areas (DIA).

Business Interruption Grants Program (BIG)

The state will make $60 million available for up to 3,500 businesses experiencing losses and/or unable to fully reopen until Phase 4 or 5 through the BIG program. Funds are earmarked specifically for restaurants which haven’t been permitted to allow outdoor dining, health and fitness centers, barbershops and salons, and other businesses located in disproportionately impacted areas (DIAs) of the state. The first round of BIG funds are for businesses located in a subset of DIAs where there has been recent property damage due to civil unrest will be eligible for specific grant funds. The zip codes eligible for this specific subset of funding are found here. DCEO will begin accepting applications on June 26th. Read the eligibility questions.

Distressed Capital Program

The Distressed Capital Program brings forward $25 million in Rebuild Illinois capital funds to help those businesses sustaining damages as a result of events related to civil unrest begin to restore and repair.

Together, these programs mark over $150 million in assistance made available since the onset of COVID-19 to help businesses with urgent needs. More information on these programs and other available grant opportunities can be found on DCEO’s website.