Turner encourages small businesses to apply for Back to Business grant program

[August 14, 2021]   State Senator Sally Turner (R-Beason) is encouraging small business owners to take advantage of the new COVID-19 recovery grant assistance program, Back to Business (B2B). The program will officially start accepting applications on Wednesday, Aug. 18.

“There are still many Illinois businesses financially struggling from the impact of the COVID-19 pandemic and the restrictions that were placed upon them,” said Sen. Sally Turner. “These grants are a positive step toward providing relief to our small business community.”

The new $250 million rolling grant program is funded by the federal American Rescue Plan Act (ARPA). Within the new program, $100 million is earmarked for businesses in areas disproportionately affected by the pandemic, $30 million for entertainment and art businesses, $25 million for restaurants and taverns that did not receive grants through the Restaurant Revitalization Fund, $25 million for hotels, and $25 million for small businesses that did not receive funds through the Business Interruption Grant (BIG) program.

“Unfortunately, last year’s grant programs weren’t able to provide assistance to every small business that was overwhelmed by the government-imposed shutdowns and COVID-19 recession,” said Sen. Sally Turner. “My hope is that this new program is able to help many of those job creators who weren’t able to receive much-needed assistance from those programs.”

To be considered for a grant between $5,000 and $150,000, applicants must demonstrate they had a reduction in revenue in 2020 when compared with 2019, and annual revenues of no more than $20 million in 2019. Hotels with $35 million or less in 2019 revenues are also eligible. As part of the application, businesses must also provide two bank statements, a business owner ID, and federal tax returns for 2019 and 2020.

For more information on how to apply and where to access small business assistance, please visit www2.illinois.
gov/dceo/Pages/default.aspx

[Marcus J. Durrett
Illinois Senate Republican Staff]