Lake Co. Offering $10 Million in Small Business Grants

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The Lake County Board has allocated $10 million to fund the Lake County Small Business Assistance COVID-19 Grant Program. The grant program was created to assist small businesses in Lake County that have been negatively impacted by COVID-19.

Beginning July 7, 2020, businesses will be able to apply online for up to $30,000 to cover up to four months of occupancy costs (rent, mortgage, utilities) as well as expenses incurred due to COVID-19 (new equipment, plexiglass, masks, sanitization services/materials, employee training, etc.).

The Lake County Small Business Assistance COVID-19 Grant Program will be administered by Lake County Partners with final grant approval and dispersing of funds performed by Lake County.

Small businesses in Lake County that meet the following criteria are eligible to apply for the program:

  • For profit, incorporated business (e.g., LLC, S Corp, Partnership, Sole Proprietorship, etc.) – Independent contractors are currently not eligible
  • In business prior to February 15, 2020
  • Earn less than $2.5 million in annual revenue
  • Must be able to document a significant negative business impact from COVID-19
  • Preference will be given to businesses that have not received Federal Assistance (i.e., Paycheck Protection Program or Economic Injury Disaster Loan)

Lake County small businesses that meet the above requirements may apply online at lakecountyil.gov/forward beginning at 8 a.m. on July 7. The application period will be open for two weeks, with submissions accepted until July 20 at 11:59 p.m.

 

Webinars

Lake County Partners and the Illinois Small Business Development Center will co-host three webinars to provide information on this program and answer questions from participants. Businesses applying for this program are encouraged to attend one of the following webinars:

July 8, 2 p.m.
Join Link
Meeting ID: 914 5527 5652
Password: 315050
Call in Number: 1-312-626-6799
July 14, 10 a.m.
Join Link
Meeting ID: 911 7245 6555
Password: 212244
Call in Number: 1-312-626-6799
July 20, 8:30 a.m.
Join Link
Meeting ID: 921 0926 0251
Password: 626422
Call in Number: 1-312-626-6799