$900M In Grants To Support IL Small Businesses, Housing: Pritzker

ILLINOIS — Gov. J.B. Pritzker on Wednesday announced the state has set aside more than $900 million for grants to support small businesses, low-income families and residents struggling to make ends meet amid the coronavirus pandemic.

The funding will be spread across almost a dozen programs, with mandates to ensure "Black and Brown communities who have been hit the hardest" by the coronavirus "receive their fair share of support," Pritzker said at a news conference in Chicago’s North Lawndale neighborhood.

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"Just like the virus went after our most vulnerable people, it also hit the most vulnerable parts of our economy," Pritzker said. "It’s our small businesses, our working families, our communities of color, that have paid the highest price."

The newly established Business Interruption Grants program will provide $270 million to businesses whose operations were severely limited or were closed under public health mandates, Pritzker said.

The first round of funding will include $60 million in grants to 3,500 businesses —$20 million for bars and restaurants unable to offer outdoor dining; $20 million for small businesses in areas hit the hardest by the pandemic; $10 million for barbershops and salons; and $10 million for gyms and fitness centers, according to plans released Wednesday.

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The application for BIG funding is set to be available Monday on the Illinois Department of Commerce and Economic Opportunity’s website.

The Illinois Housing Development Authority is launching a $150 million Emergency Rental Assistance Program to provide $5,000 each to 30,000 renters in the state who were "disproportionately impacted" by the pandemic, Pritzker said. The IHDA will also provide $150 million to Illinois homeowners to assist with mortgage payments, according to the governor. The program is expected to help about 10,000 homeowners.

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With both programs set to take force in August, Pritzker extended his ban on evictions through the end of July "to give people a smooth transition into these assistance programs."

The funding package also includes $25 million for businesses that were damaged amid protests following the death of George Floyd, Pritzker said. The state’s Distressed Capital Program will help businesses cover the cost of repairing and restoring their facilities.

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Pritzker said the program will prioritize small businesses, women- and minority-owned businesses, those that are uninsured or underinsured, and businesses located in communities "that have experienced historic disinvestment." The program also includes mandates to "ensure women and minority-owned contractors are the first in line to do their repair work," Pritzker said.

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Starting this month, the Illinois Department of Human Services will direct $32.5 million to help residents in poverty, with more than $6 million for summer youth programs, up to $4 million in stipends for unemployed adults, $2 million to expand food banks and $1 million to help minority farmers, according to plans released Wednesday.

The IDHS is also set to distribute $11.5 million in one-time $500 payments to families who receive help from the Temporary Assistance for Needy Families program.