Grant money available for Illinois businesses affected by pandemic

An Illinois state government program aimed at aiding small business recovery could be a welcome respite for struggling business owners in the region. 

As part of Gov. JB Pritzker’s economic recovery strategy, $250 million has been allocated for the Back to Business, B2B, grant program. 

The program aims to deploy small business recovery grants for those hit hardest by the COVID-19 pandemic. 

Grants will be available in amounts of $5,000 up to $150,000, depending on need, to cover a wide range of operations, staff and overhead costs. 

Priority for the program will be given to the industries hardest hit by the pandemic, including hotels, salons, fitness centers, restaurants and others. 

Economically distressed communities in Illinois with higher case counts of COVID-19 will also receive special consideration, as will businesses with less than $5 million in revenue in 2019. 

Priority will also be given to businesses that have yet to qualify for state or federal assistance. However, business owners may still apply even if they have received government assistance previously. 

To qualify, a business must have had revenues of less than $20 million in 2019 and show a reduction of revenue in 2020 due to COVID-19. 

Applicants will need copies of 2019 and 2020 federal tax returns as well as two business bank statements from the period of March 2019 to December 2019, along with a current business statement. A business owner ID is also required (ITIN accepted). 

Applications will be accepted on a rolling base until funds for the program are depleted. 

Applications for the program can be found online at Illinois.gov/dceo. For more information, contact Larry A. Moore at 618-614-0317.