Gov. Pritzker urges small businesses to utilize for monetary aid

CHICAGO (CBS) — Small companies in Illinois that have been struggling to survive all through the pandemic have only a few days remaining to implement for grants of up to $150,000 from the point out of Illinois’ “Business Interruption Grant” plan.

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Ill. Gov. JB Pritzker addresses the point out with the most recent regarding COVID-19

Gov. Pritzker explained the deadline for purposes for the system is at 5 p.m. Tuesday.

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Introduced in June, the Big system set apart $540 million in grants, funded by the federal coronavirus stimulus prepare, to modest businesses that had been forced to shut or scale back again functions owing to the pandemic. 50 % of the income was reserved particularly for childcare companies.

Of the $270 million offered to all compact firms, $168 million has been dispersed so considerably to 6,300 firms in 500 cities, in accordance to Pritzker.

The governor claimed the state will continue on issuing grants of $5,000 to $150,000 to smaller corporations by means of the close of the calendar year. To date, the ordinary grant is roughly $25,000.

“If you have a smaller business enterprise, or you know someone who does, make positive that they acquire the time to submit an software if they qualify,” Pritzker mentioned Thursday afternoon.

To qualify for the grants, corporations have been demanded to demonstrate major losses due to the fact March, and a probability of ongoing loss in earnings. Companies also should have been open for at the very least three months prior to March. Condition officials have explained they also would location an emphasis on corporations positioned in locations that have experienced house problems due to civil unrest.

Pritzker explained grants can be used for operational expenses these as own protective tools, hire, payroll, utilities, and a lot more.

For total specifics on qualification needs and qualified expenses, pay a visit to the Illinois Department of Commerce and Financial Possibility web page.

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