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Romolo & Associates, LLC


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IL Dept of Commerce Grants for Small Businesses-Applications Open Monday, June 22

Illinois Department of Commerce and Economic Opportunity

New Business Interruption Grants Program
This is a new grant program announced by the Governor as a part of the $900 Million Package of Equity-Driven Community and Business Grant Programs.  The launching of the first round of Business Interruptions Grants of $60 million to businesses experiencing losses or businesses interruption as a result of COVID-19 related closures.  Priority will be given to small businesses that have been heavily restricted or completely shut down during the pandemic located in DIAs.  Priority will also be placed on businesses located in areas that have experienced recent property damage due to civil unrest, exacerbating the economic impacts of COVID-19.  See DECO link below for more information.

Distressed Capital Program
DECO will provide $25 million to support Illinois businesses that have sustained property damage as a result of civil unrest during the recent protests and demonstrations on or after May 25, 2020.  This program will reimburse the costs to repair structural damage, including repairs to storefronts and entrances, improving electrical systems and restoring exterior work.  DECO will prioritize small businesses, women and minority owned businesses, underinsured or uninsured businesses, businesses that have high impact -such as grocery stores-and businesses in communities that have experienced historic disinvestment.

DECO will make the application(s) for BIG and NOFO on Monday, June 22d.  SEE DECO here