October 8, 2020

Business Interruption Grant Program Offers Pandemic Relief for Illinois Businesses

The Business Interruption Grant (BIG) is a historic recovery program for Illinois small businesses hit hardest by the ongoing pandemic. The first round of funding released $49 million in August to 2,655 small businesses across the state. Grants averaged $17,000 and were used to cover expenses such as payroll, rent, and other operational costs for small businesses in economically distressed areas.

Round Two

The second round of BIG will provide more than $200 million to heavily impacted industries and disproportionately impacted areas. The Department of Commerce and Economic Opportunity (DCEO) has pledged that at least half of all remaining funds, totaling more than $100 million, will be reserved for businesses in downstate and rural communities of Illinois.

Eligibility Criteria

  • Must be an independently owned and operated for-profit corporation or limited liability corporation, partnership, or sole proprietorship authorized to conduct business in the State of Illinois; OR a 501c3, 501c6, or 501c19 nonprofit;
  • Must have been operating for at least three months prior to March 2020;
  • Must have had less than $20 million in revenue in calendar year 2019, or a pro-rated amount if in operation for less than a year prior to March 2020;
  • Must have experienced operating losses since March 21, 2020;
  • Must have been closed or had reduced operations due to government orders, public health guidelines, or depressed consumer demand during the COVID 19 pandemic;
  • Must have complied with all relevant laws, regulations, and executive orders from the State and federal government, including the social distancing guidelines as promulgated by the Executive Orders of the Illinois Governor

Deadline

Applications will be reviewed on a rolling basis until all funds are exhausted. Access the BIG application here.

This is a brief summary of the Business Interruption Grant (BIG). Contact an Anders advisor below for more details on applying, eligibility and other information.  Our advisors are closely following COVID-19 relief efforts and will continue to publish insights to keep you informed about potential business impacts and benefits. Visit our COVID-19 Resource Center for more news, tools and insights you need to know in these uncertain times.

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