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DCEO Preparing to Launch Rebuild Distressed Communities Program

DCEO announced an update on the Rebuild Distressed Communities program - a $25 million economic recovery program to support economically distressed Illinois businesses and communities that have sustained property damage due to civil unrest on or after May 25th, 2020.

The Rebuild Distressed Communities grant program will reimburse the cost of repairs for structural damages, including repairs to storefronts and entrances, improving electrical systems, and restoring exterior work. For work yet to be completed, DCEO’s community organization partners, LISC and CNI, will secure local contractors to perform repair work, prioritizing diverse companies.

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Business Interruption Grant Begins Round Two

The Business Interruption Grant (BIG) program is a $636 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 as defined in the eligible cost list found below.

Program Updates
New to BIG – applications for a second round of funding are set to go live September 17. A total of $220 million will be made available for small businesses of all types in Illinois. More details on the latest round of funding and how to apply can be found below.

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Downstate Small Business Stabilization Program

A total of $5.3 million in Downstate Small Business Stabilization grants have been deployed to 257 businesses spanning 78 downstate communities. See the full list of grant recipients here.
 

With the outbreak of the COVID-19 virus and its detrimental impact on small businesses, the State is invoking its option to adjust Community Development Block Grant allocations to address specific needs to benefit Illinois’ non-entitlement communities in case of unforeseen circumstances. $20 million will be available for this program.  The Downstate Small Business Stabilization component has been established to provide working capital funds to community’s businesses economically impacted by the COVID-19 virus.

The program component makes funds available for 60 days of verifiable working capital up to a grant ceiling of $25,000 and is available for businesses that employ 50 people or less.  Number of employees includes the business owner(s).  These funds may be used to assist private for-profit small retail and service businesses, or businesses considered non-essential by the Governor’s Executive Order without the ability for employees to work remotely.

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