$25 Million Available in B2B Grants for New Businesses
New businesses launched in 2020 or 2021 are eligible for up to $30,000 in grants
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January 11, 2024, at 11:59:59 p.m. CT.
Gov. JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) today announced $25 million in available grant funding through the Illinois Back to Business Grant Program (B2B NewBiz).
Following state recovery programming for businesses totaling $1.5 billion, the latest American Rescue Plan Act (ARPA)-funded opportunity is designed to provide additional support for businesses in hard-hit sectors that launched during the pandemic. Businesses that launched in 2020 or 2021 and remain in operation have faced significant impacts during the pandemic, but they have not been eligible for other federal or state relief programming since they were not operational before the pandemic.
To provide hands-on support and raise awareness about the program, the State has mobilized a network of nearly 100 community navigators across Illinois.
The Elgin Area Chamber is your local navigator.
Call us at 847-741-5660 or email us!
Applicants are encouraged to visit b2bnewbiz.com to learn more and apply.
Applications are open from November 30 through January 11, 2024, and awards are expected to be made several weeks after the deadline date. All eligible applicants will receive a grant as long as the business meets eligibility requirements and submits proper documentation and attestations.
Eligibility, Application, and Awards
To qualify for the B2B NewBiz program, businesses must have launched between January 2020 and December 2021 and be in an industry that was particularly impacted by the pandemic, or a business that was started by an individual or individuals that became unemployed during the pandemic. Eligible funding amounts are based on when the business was established and whether the business is home-based or operating out of a “brick-and-mortar” establishment.
Since the onset of the pandemic, DCEO has allocated $1.5 billion in pandemic-related support for businesses, including $693 million through B2B and BIG, $899 million in Child Care Restoration Grants (administered in partnership with DHS), $18.5 million in local CURE funding specifically allocated to businesses, $14 million in Emergency Hospitality Grants, and $3.5 million in BIG agriculture grants.