Grants available for Illinois small businesses
QUINCY (WGEM) — If you own a small business and suffered losses during the Pandemic, you may be able to get a grant from the state.
The Back to Business Grant Program will award anywhere from $5,000 to $150,000 grants to small businesses statewide that suffered during the Pandemic.
In order to qualify, the business must have had revenues below $20 million dollars in 2019 and had their revenue drop in 2020 due to COVID-19.
The hardest-hit industries will be given first priority in the program. This includes hotels, restaurants, gyms and more.
The program is part of the state’s allocation of funds from the American Rescue Plan Act. Around $250 million dollars are set aside for the program.
Interim Executive Director of the Quincy Area Chamber of Commerce Phil Conover says this is a great opportunity for small businesses that have struggled.
“This grant gives them an opportunity to get back up to even, or close to even, and it gives them a new baseline to start on in recovering their economic well-being as they move forward so it can be a direct help in that respect,” said Conover.
He mentioned that oftentimes, businesses do not get these kinds of opportunities to help following disasters and this could help them build back better.
John Wood Community College officials such as Dave Hetzler said the process to apply is easy and can all be done online.
Applicants will need a copy of their business’s 2019 and 2020 tax returns, two bank statements (one from Mar-Dec of 2020 and the most recent one) and a business owner ID.
You can find a link to apply here.