Downstate Business Stabilization
Program Application Portal Open for Logan County Businesses
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[May 09, 2020]
Small
businesses in Logan County who have been negatively impacted by the
COVID-19 crisis may be eligible to apply for a grant of up to
$25,000 through Illinois’ Downstate Business Stabilization Program.
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Because businesses do not apply directly to the
state but through a unit of local government, the Greater Peoria
Economic Development Council has partnered with local governments to
create an on-line platform for interested businesses to complete and
submit applications. More information, including a link to the
application portal, can be found at
www.gpcovid.com.
Businesses in Logan County have until 5 p.m. on Friday, April 17.
Greater Peoria EDC is also working with businesses in its other four
counties. Businesses located in Peoria, Woodford and Mason counties
have until 5 p.m. on Friday, April 10 to submit their completed
applications. Tazewell county businesses have until 5 p.m. on
Monday, April 13. Interested applicants outside of these counties
should contact their municipality or county for information on their
process.
![](http://archives.lincolndailynews.com/2020/Apr/10/images/ads/current/topflight_sda_SFARM_2020.png)
With the outbreak of the COVID-19 virus and its detrimental impact
on small businesses, Illinois has reprogrammed $20 million of its
Community Development Block Grant (CDBG) funding to create this
program that supports small businesses in downstate and rural
communities.
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![](http://archives.lincolndailynews.com/2020/Apr/10/images/ads/current/debbiesfloral_lda_040220.png) The Downstate Small Business Stabilization Program
grants can cover the cost of 60 days of working capital for
businesses economically impacted by the COVID-19 virus. The
program’s goal is to keep businesses open or assist closed
businesses in reopening as soon as possible.
The program is limited to for-profit businesses with 50 or less
employees (including the owner). According to rules established by
the state, businesses must have been in operation, with the same
ownership, since at least January 1, 2017 to qualify. The focus is
on “non-essential” businesses who have closed due to Gov. Pritzker’s
“stay at home” order. Bars and restaurants are also eligible for
assistance even if they are still operating for carryout or delivery
only. Applicants must provide financial information as well as
demonstrate hardship.
Questions from businesses or potential
applications should be sent to
bizinfo@greaterpeoriaedc.org.
[Christopher Setti
Chief Executive Officer
Greater Peoria Economic Development Council] |