OTTAWA, IL – State Rep. Lance Yednock, D-Ottawa, is bringing attention to new Business Interruption Grant funding to help local businesses economically impacted by the COVID-19 pandemic. Applications will be accepted until Tuesday, July 7 at 5 p.m.
“The new Business Interruption Grant program can help provide some real relief to our salons, gyms, bars, and restaurants that have been devastated by the interruption of this global pandemic,” said Yednock. “There is both state and federal financial assistance available to struggling businesses that are most affected by the global pandemic, and business owners should apply today before the funding for this first round of grants for service-based businesses runs out next Tuesday.”
The first round of Business Interruption Grants will provide $60 million in relief to businesses that have temporarily shut down or have been heavily restricted during the COVID-19 pandemic. Bars, restaurants, gyms and fitness centers may be eligible for grants worth up to $20,000 and salons and barbershops may be eligible for grants worth up to $10,000.
Applications are available now and the number of qualified applicants is expected to outpace the funding available. Businesses are encouraged to apply as soon as possible. Applications and more information including eligibility criteria can be found on the Illinois Department of Commerce and Economic Opportunity website at https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/C19DisadvantagedBusGrants.aspx.
“It’s vital for our eligible local businesses to get their applications submitted by July 7 to be considered for this grant funding,” said Yednock. “Small businesses mean almost everything to our Illinois Valley communities and they deserve every opportunity to succeed.”