Lendistry, this week said that it has been chosen by the Illinois Department of Commerce and Economic Opportunity (DCEO) to power a new infusion of small business grant funding in the Prairie State specifically awarding businesses that started during the COVID-19 pandemic. The Back to Business (“B2B”) New Business Grant Program (“New Biz”) will reimburse eligible small businesses in industries that have been hardest hit by the pandemic, many of which, due to their recent startup status, did not qualify for state grants and most federal emergency support. Grant amounts will range from $5,000 to $30,000. 

The fintech, which provided Paycheck Protection Program (PPP) loans to over 16,000 Illinois businesses amounting to over $330 million during the pandemic, is eager to continue making an impact. Qualified businesses must have a date of incorporation between January 2020 and December 2021. Grant amounts will be based on the start date and whether the business is brick-and-mortar or home-based. 

“We’re proud to partner with DCEO and the state of Illinois to help small business owners who were brave enough to open up shop in the middle of the biggest disruption our generation has seen,” says Everett K. Sands, CEO of Lendistry. “Opening up while also taking on extra expenses to keep customers and staff safe was costly in many ways. My team and I applaud those entrepreneurs for supporting their communities and are proud to deliver the support needed to help them reach sustainable revenues and grow.” 

Since 2015, 90% of Lendistry’s grant and loan fundings have supported firms with 10 employees or fewer, with the majority deployed to businesses in underserved communities. Together, Lendistry and the state of Illinois are giving local businesses the solid foundation they need to revitalize their communities and thrive in the new normal.  

To learn more about these programs and apply, visit www.b2bnewbiz.com.