The Department of Commerce and Economic Opportunity (DCEO) is reminding small businesses to submit for a grant through the Business Interruption Grant (BIG) program before it closes Tuesday, December 15 at 5 p.m.
BIG grants are available in amounts ranging from $5,000-$150,000, and may be used toward operational expenses, including PPE, rent and utilities, payroll, and more. Businesses prioritized for the grants include those in heavily impacted industries (e.g. restaurants and taverns, events spaces, and much, much more), businesses located in a disproportionately impacted areas (DIAs) and downstate communities, and small businesses with annual revenues of $5 million or less and/or businesses that have not received other forms of emergency assistance like PPP.
The department is closing the program after receiving more than 40,000 applications through the program. To date, the State of Illinois has awarded more than $168 million to over 6,300 small business owners spanning over 500 cities across the state. Moreover – the program has helped direct funding for the smallest and most vulnerable businesses in the state so far – with nearly half of all funds issued to date for minority owned businesses, and more than 85 percent committed to the smallest businesses (those with revenues of $1 million or less).
Additional grant awards will be made on a rolling basis in the coming weeks until the remainder of $270 million of funds allocated by DCEO are exhausted.
Applying is easy, and it’s not too late! For more information on BIG eligibility, to receive technical and language assistance, and for a full menu of resources to navigate the application, please visit DCEO’s program website.