Business Interruption Grant (BIG) Program Round 2 Now Accepting Applications
Governor Pritzker and the General Assembly established the BIG program to provide relief to small businesses hit hard by the pandemic. $540 million in grants are being awarded in funding rounds to small businesses to reimburse costs incurred due to COVID 19, with $270 million specifically for childcare & early learning providers.
$49 million in grants has been awarded to 2,800 businesses in Round 1. In Round 2, $200 million of the remaining funds will be available to all small businesses statewide that experienced losses due to the pandemic. $70 million will be invested in disproportionately impacted areas (DIAs), and $60 million set aside for heavily impacted industries.
Eligible businesses include for-profit and nonprofit entities with $20 million or less in annual revenue in 2019 (annualized for businesses that started after January 2019) and experienced losses due to COVID 19. Grant size will be calculated based on revenue losses and/or expenses over the last two months and will range from $5,000 to $150,000. Illinois Department of Commerce & Economic Opportunity has partnered with Accion and been accepting applications since September, 17.