Business
Last Updated: 1/20/2021
Illinois Business Interruption Grant Program (BIG)
The Business Interruption Grant (BIG) program was developed by Governor JB Pritzker and the Illinois General Assembly to provide $580 million in economic relief for small businesses hit hardest by COVID-19. BIG – the largest program of its kind in the nation - leverages federal funding provided by the CARES Act to help offset COVID-19 related losses for Illinois small businesses. For more information, please see the Illinois Department of Commerce & Economic Activity website > Business Interruption Grants Program (BIG).
U.S. Small Business Administration Paycheck Protection Program
The Paycheck Protection Program (PPP) is a U.S. Small Business Administration (SBA) loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. The SBA is currently offering:
- First Draw PPP Loans for first time program participants
- Second Draw PPP Loans beginning January 13, 2021 for certain businesses who have previously received a PPP loan
SBA also offers additional Coronavirus relief. Or visit the main Paycheck Protection Program page for general information.
Will County Small Business Assistance Grant Program
The application period is now closed. Will County earmarked more than $24 million of CARES Act funding for a Small Business Assistance Grant Program to provide financial assistance to small businesses impacted by COVID-19 so that they could maintain operations. Selected businesses may receive up to $15,000 in grant assistance. More information is available on the Will County website > Small Business Assistance Grant Program.