The Illinois Department of Commerce and Economic Opportunity (DCEO) launched the first round of Business Interruption Grants (BIG). The Grant will provide $60 million to businesses experiencing losses or business interruption as a result of COVID-19 related closures. The BIG Program is available for up to 3,500 businesses that experienced a limited ability to operate due to COVID-19.
Businesses eligible for the program must have experienced extreme hardship, demonstrated by experiencing eligible costs or losses in excess of the grant amount since March. Businesses also must have been in operation for at least three months prior to March 2020 and must meet specific annual revenue criteria.
The program includes support for:
Businesses located in DIAs Where There Was Recent Property Damage from Civil Unrest - $20 million for businesses that are located in a subset of Disproportionate Impacted Areas (DIA) that have recently experienced significant property damage; providing 1,000 grants of $20,000 each. Information on DIAs is available here.
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.
DCEO will begin accepting applications on June 26th. You can learn more about the application and eligibility criteria by clicking on the links.
For more information on the program and where you can apply when the application is available, click here.