10:00 – 11:00 am
Registration Link: Illinois.webex.com/illinois/onstage
Event Number: 133 342 8235
Events Password: DCEO
Inviting Boone, Lake, McHenry, Ogle, Stephenson, Winnebago counties to the Business Interruption Grant (BIG) overview and Q&A session. This program is a multi-million program developed by Governor Pritzker and the Illinois General Assembly to provide economic relief for small businesses hit hardest by COVID-19.
BIG leverages federal funding provided by the CARES Act to help offset COVID-19 related losses for Illinois small businesses. Funding may be used to help businesses with working capital expenses, including payroll costs; rent; utilities; and other operational costs.
Applications for the second round of funding are now being accepted and can be found here. A total of $220 million will be made available for small businesses of all types in Illinois. Grants will be awarded and funded on a rolling basis until funding is depleted. The grant size will be equivalent to two months of expenses.
The BIG program is open to all eligible businesses (for-profit and nonprofit) with $20 million or less in annual revenue in 2019 and experienced losses due to COVID-19. Of the total funding, $70 million will be invested in Disproportionately Impacted Areas (DIAs) and $60 million in heavily impacted industries. A map of the DIAs and the eligibility guidelines can be found on our website.
The heavily impacted industries are defined as having annual revenues of $10 million or less and have been close or operating at a very diminished capacity since mid-March and are likely to continue to do so until Phase 5 of the Restore Illinois Plan.
These industries include the following:
- Event spaces
- Music venues
- Performing arts venues
- Indoor recreation
- Amusement parks
- Movie theaters
- Charter/shuttle buses
Recommended guests are business owners and community stakeholders. This webinar is mainly reserved for the area mentioned above, however, all businesses and Illinois stakeholders welcome.