Many of our restaurants, hotels, and creative arts organizations still struggle to recover from the pandemic. On Wednesday, March 22nd, the Governor’s office announced $175 million dollars are available for eligible applicants in these sectors. The grants are part of additional assistance provided by the American Rescue Plan Act (ARPA). One of the NACC’s goals is to help spread the word about these opportunities as they become available to our membership. It is essential not to delay as the application process opens on April 5th and will close on May 10, 2023.
To find more information, please go to the Department of Commerce and Economic Opportunity (DCEO) website at: https://dceo.illinois.gov/smallbizassistance/b2b.html
Applicants must meet certain criteria for consideration. We have pulled a quick snapshot for you to understand funds available as well as eligibility:
|B2B Restaurants||B2B Hotels||B2B Arts|
|Funding Available||$50 million||$75 million||$50 million|
|Award Range||$5,000-$50,000||$Up to 1,500 per room||$5,000-$250,000|
|Impact of Receiving Prior Award||Ineligible if business received any prior state relief funding (B2B, BIG, RRF) or more than 10K in local funding. Businesses who received federal funds, such as PPP are eligible.||Amount of state or local grants received deducted from overall award amount.||Grant based only on 2021 losses for businesses that received prior state relief funding (BIG or B2B).|
|Spending Guidelines||Flexible spending to support losses||80% for payroll related costs; 20% flexible spending||Flexible spending to support losses|
|Examples of Eligible Businesses (for the full eligibility list and guidelines please visit Illinois.gov/B2B)||Restaurants, Taverns, Bars, Caterers, Breweries, Wineries, Food Trucks||Hotels, Motels, Inns, Lodging sites||Performing and presenting arts, Theaters, Museums, Cultural heritage organizations|
The DCEO will be hosting statewide information sessions on the dates below:
- Friday, March 24, 2023, 10:00 a.m.
- Thursday, March 30, 2023, 10:00 a.m.
- Thursday, April 6, 2023, 2:00 p.m.
To register, go to: https://dceo.illinois.gov/smallbizassistance/b2b.html