Hospitality Emergency Grant Programs $14 Million:
Bars and restaurants that generated between $500K and $1M in revenue in 2019 are eligible for
up to $25,000, and bars and restaurants that generated less than $500K in revenue in 2019 are
eligible for up to $10,000. Hotels that generated less than $8M in revenue in 2019 are eligible
for up to $50,000.
Who is eligible?
• Bars
• Restaurants
• Hotels
What can grants be used for?
• Bars and Restaurants – working capital (rent, payroll, other accounts payable),
job training (such as new practices related to take out, delivery and sanitation),
and technology enabling new operations.
• Hotels – working capital to support the retention of employees.
How do businesses apply?
• Click Here to be taken to the application page. Applications will be accepted from
March 27, 2020 until 5pm April 1, 2020.
• Winners will be chosen via a lottery.
How soon will businesses receive fund?
• Accion will notify businesses on April 4th if they have received an award. Accion
and DCEO are striving to make funds available to awarded businesses within two
days of receiving the necessary bank information from an awarded grantee.
Emergency Loan Fund
DCEO and the Illinois Department of Financial and Professional Regulation (IDFPR) are
establishing the Illinois Small Business Emergency Loan Fund to offer small businesses low
interest loans of up to $50,000.
Who is eligible?
• Small businesses located outside of Chicago
• Less than 50 workers
• Less than $3 million in revenue in 2019.
What can loan funds be used for?
• Support for working capital.
How much money is available?
• Up to $50,000 with a 5-year repayment period with no payments due for the first
6 months.
How do businesses apply?
• Businesses will be able to complete an interest form HERE on Friday, March 27,
2020.
How soon will businesses receive funds?
• Eligible businesses will be invited to submit a full application beginning on April
1. Once submitted, DCEO will strive to make a loan decision within 10 days, and
make funds available within two days of receiving bank information from a
business.
Downstate Small Business Stabilization Program $20 Million
This fund will offer small businesses of up to 50 employees the opportunity to partner with their
local governments to obtain grants of up to $25,000 in working capital. These grants will be
offered on a rolling basis.
Who is eligible?
• Small businesses with 50 or less employees.
• Municipalities must not be a HUD direct Entitlement community or be located in
an urban county that receives “entitlement” funds. (All areas of Jasper County are
eligible)
What can grants be used for?
• The support of working capital.
How do businesses apply?
• Application must be submitted by businesses local governments.
(At the moment there is very little information on the process. If you are an
eligible business located in Jasper County, Illinois who would like to apply,
please email Amber Volk at jaspercountyjedi@gmail.com with:
o Your name
o Name of business
o Address of business
o Number of employees
o Phone number that is best to reach you.
For more information regarding the Emergency Small Business Grants & Loans Assistance,
please visit: https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/EmergencySBAIntiatives.aspx
