Metro East Sun

The Illinois Department of Commerce and Economic Opportunity (DCEO) has introduced a new grant program aimed at providing financial relief to businesses that started during the COVID-19 pandemic. The program, called the Illinois B2B NewBiz grant, is specifically designed to assist industries that were severely impacted by the pandemic and have not been eligible for state or federal emergency support.

According to the DCEO, the Illinois B2B NewBiz grant program became available on November 30, 2023. Business owners who meet the eligibility criteria can apply for grants of up to $30,000 through the grant portal at b2bnewbiz.com until January 11, 2024.

To be considered for the grant, for-profit businesses and non-profit organizations must satisfy several criteria. First, they must have started operations between January 1, 2020, and December 31, 2021. Additionally, they need to have had gross receipts ranging from $25,000 to $20,000,000 in 2021, with annualized figures for businesses that began operations during that year. Furthermore, the businesses must currently have active operations in Illinois and must not have previously received a Back to Business (B2B) grant before 2023, including grants such as the Business Interruption Grant, Shuttered Venue Operators Grant, or Restaurant Revitalization Fund Grant.

In order to be eligible for the Illinois B2B NewBiz grant, businesses must also fulfill one of two specific criteria. They must either be in a priority industry as defined in the previous Back to Business grant program, or they must be majority-owned by individuals who became eligible for and received unemployment insurance benefits, including Pandemic Unemployment Assistance, between March 13, 2020, and the date the business began operations.

The launch of the Illinois B2B NewBiz grant program is an important step in supporting businesses that have been adversely affected by the pandemic. In a statement, the DCEO emphasized the significance of providing financial assistance to businesses that have not been able to access previous relief programs. According to the DCEO spokesperson, "This grant program is specifically tailored to support businesses that started during the pandemic and were unable to benefit from previous grant initiatives. We aim to provide much-needed assistance to these businesses and help them recover and thrive."

Business owners are encouraged to visit the grant portal at b2bnewbiz.com for more information and to submit their applications before the deadline on January 11, 2024. The Illinois B2B NewBiz grant program offers a valuable opportunity for eligible businesses to receive financial support and build resilience as they navigate the ongoing challenges posed by the pandemic.

For additional details, please follow this link: https://senatorericaharriss.com/new-back-2-business-grants/