The first round of downstate small business stabilization grants has been awarded. A total of $1.3 million in grants have been deployed to 65 businesses spanning 28 downstate communities. See the full list of grant recipients
With the outbreak of the COVID-19 virus and its detrimental impact on small businesses, the State is invoking its option to adjust Community Development Block Grant allocations to address specific needs to benefit Illinois’ non-entitlement communities in case of unforeseen circumstances. $20 million will be available for this program. The Downstate Small Business Stabilization component has been established to provide working capital funds to community’s businesses economically impacted by the COVID-19 virus.
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.
Notice of Funding Opportunity
The Guidebook includes detailed information about program requirements and eligibility, as well as the Application forms.
Applications must be submitted by a unit of local government recognized by the Illinois Constitution and able to support economic development activities on a sufficient scale. This includes cities, villages, and counties. Municipalities must not be a HUD direct Entitlement community or be located in an urban county that receives "entitlement" funds (see list in program Guidebook). Applications will be made “in support of” the benefiting business and funds will be passed through to the business via a Participation Agreement.
To avoid the spread of COVID-19, all applications must be submitted by scanning in the required documents and e-mailing them to:
Answers to the most frequently asked questions can be found here:
Downstate Small Business Stabilization Program FAQs
You may access a webinar recording covering the Downstate Small Business Stabilization Program Guidebook and Application
A webinar recording specifically for local governments can be found
For technical assistance, please reach out to the
grant manager in your area, e-mail
email@example.com, or call the Office of Community Development at 217/785-6174.
The following items must be completed and included as part of the application: