August 11, 2022


Business Activity

Businesses Hurt By Pandemic Can Apply For Grants From $250 Million State Program. Here’s How

BRONZEVILLE — Regional companies proprietors harm by the pandemic can implement for a new grant from the point out.

Leaders from the Illinois Division of Economic Prospect spoke Thursday at Construct Bronzeville, 5055 S. Prairie Ave., about the state’s $250 million Back to Business enterprise grant software, hoping to get the phrase out to modest organization homeowners.

Fascinated organization homeowners can apply on the internet.

Small business proprietors who apply and are picked can get grants of $5,000-$150,000, or $250,000 if they operate a hotel. Organizations should have been founded before the pandemic and have experienced revenues of $20 million or significantly less in 2019. The proprietors must give an ID, two bank statements and tax returns from 2019 and 2020 to display economic losses from the pandemic.

Priority will be offered to homeowners who formerly applied for grants, people today with stores in underserved parts and individuals in industries most impacted. Applications will be approved through Oct. 13, with the initially round of grantees set to be declared up coming week.

Money will be awarded on a rolling foundation, claimed Sylvia Garcia, acting director of the Office of Economic Possibility.

Soon after Thursday’s information conference, Garcia and regional leaders canvassed businesses alongside 47th Street to unfold the information.

Legacy Men’s Boutique owner Mandene Muhammad said the foot website traffic he relied on prior to the pandemic virtually stopped after it arrived. Even though issues have picked up, development has been gradual, Muhammad stated.

“It’s been an exciting journey,” reported Muhammad, who moved his store from Martin Luther King Generate to 107 E. 47th St. more than a year in the past. “In the very last place, I was tucked absent, so a ton of people would not see me except I was hitting the streets to market, and I’m still accomplishing it now.”

A block absent, Costume Code proprietor Will Doleh explained to the team he incurred $350,000 in damages when his retailer, 205 E. 47th St., was broken into for the duration of unrest in May well 2020.

Doleh claimed he used for COVID-19 guidance last 12 months but did not get it. The cash would enable with his business’s restoration, which has been gradual heading, he claimed.

“We were shut for two months. 3 of our 5 locations ended up strike, so we have been active trying to recoup, but it’s been tough,” Doleh mentioned.

Bronzeville business owners who need help applying to the grant method can phone 773-285-3401 to converse to the 51st Road Company Affiliation.

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