ATTN: All Eligible Businesses in Jasper County, Illinois
For Immediate Release
ATTENTION ALL ELIGIBLE BUSINESSES IN JASPER COUNTY, ILLINOIS:
The City of Newton, Illinois and the County of Jasper, Illinois will be utilizing the
Downstate Small Businesses Stabilization Program. The program component 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.
Important information to know:
• For businesses with 50 employees or less.
• Eligible activities include working capital expenses (employee salaries, general
operating expenses, inventory, advertising and marketing expenses)
• Must meet the National Objective of retaining permanent jobs primarily
benefiting LMI persons by the end of the 12 – month grant term. If not met,
grantee must repay amount back.
• Business cannot be located in a floodway area.
What we need from you:
• Certificate of Good Standing from IL Secretary of State.
• The business musty identify their net income for the last three fiscal year ending
on December 31, 2019.
o Net income can be obtained from the Profit and Loss statement, generally
the last item on that statement.
o Cash balances must be provided.
o Three years of ending cash balances must be provided for each fiscal year.
• Copy of the most current bank statement.
• Documentation to demonstrate the lack of permanent working capital in support
of operating expenses.
o Shutoff utility notice.
o Delinquent bills.
o Denied loan applications.
• List of all employees (this includes owners) as on January 1, 2020, employees
hired since then and their current status.
• Project summary.
o Include a brief description of the company, e.g., type of firm, its product
or service, and how long they have been in business. Describe how the
Grant funds will be used and reasons why they are needed in order for the
company to be in a position to retain jobs. Specific needs need to be
identified. Explain what circumstances make this project necessary in
maintaining adequate permanent working capital to sustain operating
needs.
All the above information should be sent to Economic Development Coordinator, Amber Volk
via email at jaspercountyjedi@gmail.com . Any missing information will forfeit the application.
A public hearing will be held via video conference on April 30, 2020. All applicants MUST
attend. The time and link will be posted on a later date.
Stay safe and healthy,
Amber Volk
Economic Development Coordinator
JEDI Executive Director
