Will County business owners could benefit from new grant money
First-come-first-served program launched Monday
6/22/2020, 6:52 p.m.
The Illinois Department of Commerce and Economic Opportunity will disperse $10 million dollars in relief funding for 500 fitness centers. Additionally, $20 million will allocated for bars and restaurants that have suffered losses due to COVID-19.
In order to be eligible:
● All applicants must attest to experiencing costs or losses of at least $20,000 since the Stay at Home order was put in place on March 21, 2020 due to closure or reduced operations as a result of the COVID pandemic.
● A fitness facility must have made less than $2 million in revenue in 2019, or pro-rated revenue if in business for less than a year. Such businesses must have been operating for at least three months prior to March 2020.
● Businesses must occupy a gym facility. Health or fitness service providers that provide remote services or travel to different sites/client locations without a permanent establishment open to members are not eligible. Facilities must submit proof of client agreement or other evidence of operation as a fitness center.
● Eligible bars and restaurants will be those with under $3 million in revenue in 2019, or pro-rated amount if in business for less than a year. Business must have been an operating business for at least three months prior to March 2020.
● Grant award will be $20,000 for restaurants earning $2-3 million in revenue in 2019 and $15K for restaurants/bars earning less than $2 million.
● Only bars and restaurants that have not provided outdoor food and beverage service during Phase 3 will be eligible. This could be for any reason including prohibition by local ordinance, lack of access to outdoor space, or financial infeasibility.
Grants are given out on a first come, first serve basis, and will become available today, June 22. For more information, visit https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/C19DisadvantagedBusGrants.aspx