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 The board approved another four applications from
area businesses. This was the second round of application approvals.
The first round in early May had 18 applications approved.
See:
Logan County Board approves 18 applications for Downstate Small
Business Stabilization Program
The Illinois Department of Commerce and Economic Opportunity website
gives details on this program that had $20 million available for
small businesses negatively impacted by the Covid-19 virus outbreak.
Due to this situation, “the state is invoking its option to adjust
Community Development Block Grant allocations to address specific
needs to benefit Illinois’ non-entitlement communities in case of
unforeseen circumstances.”
The Downstate Small Business Stabilization component was
“established to provide working capital funds to community
businesses economically impacted by the Covid-19 virus.”
This component of the program “makes funds available for 60 days of
verifiable working capital up to a grant ceiling of $25,000 and is
available for businesses that employ 50 people or less. Number of
employees includes the business owner(s).”
These funds may be used to assist private for-profit small retail
and service businesses, or businesses considered non-essential by
the Governor’s Executive Order without the ability for employees to
work remotely.
In the program, businesses apply for grants of up $25,000 through a
unit of local government. Logan County was chosen with Finance
Chairman Chuck Ruben coordinating.
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The Greater Peoria Economic Development Council
partnered with local governments to create an on-line platform for
interested businesses to complete and submit grant applications.
Applications are then submitted through a portal at
www.gpcovid.com.
Earlier this spring. the County Board was appointed as the lead
agency for Logan County and grantee for the program.
After applications were submitted through the portal,
the Logan County Board acted as the agency submitting the
applications for grants to the next level.
Once grant applications are approved at the next level and the funds
released, funds will be passed to the businesses through the board.
The four businesses who applied for assistance with expenses are as
follows:
1. Aarush Hotels, LLC - $25,000 for payroll and overhead expenses.
2. Wertheim Enterprises - $18,441.24 for payroll and overhead
expenses.
3. Gina's Talk of the Town, Inc. - $25,000 for payroll and overhead
expenses.
4. Cafe Billiards, LLC - $24,900 for payroll and overhead expenses.
The deadline for applications is over and at this point, it is
unknown whether the state will offer the grant again.
[Angela Reiners]
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