A new program from the state of Illinois is helping businesses that launched during the COVID-19 pandemic recoup some of their losses.
Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) recently announced $25 million in grant funding through the Back to Business (B2B) NewBiz program. The program is designed to provide additional support for businesses in hard-hit sectors that launched during the pandemic. The businesses that launched and remained in operation faced major impacts during the pandemic but have not been eligible for other federal or state relief programs since they were not open and running before the pandemic.
“Small business owners contribute to our thriving state economy every day, often taking on enormous risk to do so—but no business owner could have been prepared for the effects of the COVID-19 pandemic,” said Governor Pritzker. “These grants will support those who faced down unprecedented circumstances and met them with innovation and entrepreneurial spirit who may have been left behind in previous aid efforts.”
The state has created a network of almost 100 community navigators to help businesses apply for these grants. Mercado on Fifth has been named a community navigator in the Quad Cities. Antonio Varela, Events and Promotions Manager at Mercado, explained what these grants mean for local businesses.
“The grants for this season are to help those businesses recuperate some losses that happened during the pandemic, and specifically the businesses that were created in 2020 and 2021,” said Varela. “If you’re eligible, they’ll award you a certain amount of money that will help with the losses that you had during that time. It can be up to $30,000, depending on the situation.”
Varela says businesses should try for the grants, even if they’re unsure of being accepted. “There’s no harm in applying, it’s beneficial,” he said. “If you are approved, it really helps out. The previous grant helped out over 40 local businesses and over $1 million came back to Moline, East Moline, Rock Island and other surrounding cities.”
The deadline to apply is January 11, 2024. For more information, click here or email Yolanda Cervantes at yolanda@mercadoonfifth.org.
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