The Business Interruption Grant Program was developed by the Illinois General Assembly and Governor JB Pritzker to provide economic relief to Illinois small businesses impacted by COVID-19. The program leveraged federal CARES Act funds that state received and distributed over $275 million through 9,000 grants to small businesses.
The program was managed by the Illinois Department of Commerce and Economic Opportunity and focused on supporting some of the industries hit hardest by COVID-19 such as restaurants and bars, gyms, museums, and event venues. The average grant awarded through DCEO was $30,000, which could be used to help businesses with working capital expenses, including payroll costs, rent, utilities, and other operational expenses.
The program distributed funds in two phases. After seeing only twelve St. Charles businesses received funds in the first round, the St. Charles Business Alliance and City of St. Charles staff worked to promote the program through outreach to potentially eligible businesses. In the second round, twenty more St. Charles businesses received funding.
In total, St. Charles businesses received $945,000 in BIG funds. These funds were distributed to thirty-two St. Charles businesses with an average award of $29,500. Some of the largest awards, exceeding $100,000, were granted to Hotel Baker, St. Charles Place Steakhouse and Flagship on the Fox.
For a complete list of the businesses who received the award, visit the DCEO website here:https://www2.illinois.gov/dceo/SmallBizAssistance/Pages/C19DisadvantagedBusGrants.aspx