Gov. Pritzker urges small businesses to apply for financial aid

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CHICAGO (CBS) — Small companies in Illinois which were struggling to outlive throughout the pandemic have only some days left to use for grants of as much as $150,000 from the state of Illinois’ “Enterprise Interruption Grant” program.

Gov. Pritzker stated the deadline for purposes for this system is at 5 p.m. Tuesday.

Launched in June, the BIG program put aside $540 million in grants, funded by the federal coronavirus stimulus plan, to small companies that have been pressured to shut or cut back operations because of the pandemic. Half of the cash was reserved particularly for childcare companies.

Of the $270 million out there to all small companies, $168 million has been distributed to this point to six,300 companies in 500 cities, based on Pritzker.

The governor stated the state will proceed issuing grants of $5,000 to $150,000 to small companies by means of the tip of the 12 months. Up to now, the common grant is roughly $25,000.

“When you personal a small enterprise, or you realize somebody who does, make it possible for they take the time to submit an software in the event that they qualify,” Pritzker stated Thursday afternoon.

To qualify for the grants, companies have been required to show vital losses since March, and a probability of continued loss in income. Companies additionally should have been open for a minimum of three months previous to March. State officers have stated in addition they would place an emphasis on companies positioned in areas which have suffered property harm as a result of civil unrest.

Pritzker stated grants can be utilized for operational bills corresponding to private protecting tools, hire, payroll, utilities, and extra.

For full particulars on qualification necessities and eligible prices, visit the Illinois Department of Commerce and Economic Opportunity website.

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