The Business Interruption Grant (BIG) program is 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 a 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
· Museums
· Charter/shuttle buses
DCEO will be hosting webinars regarding this program. You can register for the webinars by using the links below:
Event: Northeast Region Business Interruption Grant Webinar
Date and time: Friday, September 25, 2020 2:00 pm
Event address: https://illinois.webex.com/illinois/onstage/g.php?MTID=eae4c803e69f3132138ed9c902bf20d0e
Event: Northeast Region Business Interruption Grant Webinar
Date and Time: Monday, September 28, 2020 2:00 pm
Event Address: https://illinois.webex.com/illinois/onstage/g.php?MTID=eb5ae540f4ac73d79af6b0fcdc96cd4fa
Event: Northeast Region Business Interruption Grant Webinar
Date and time: Wednesday, September 30, 2020 3:00 pm
Event address: https://illinois.webex.com/illinois/onstage/g.php?MTID=e1b28c578db7ed2236ac96f8a0a0def37
