The Illinois Department of Commerce and Economic Opportunity (DCEO) recently announced the Illinois B2B NewBiz grant program that became available on November 30. This new program extends financial relief to businesses that started during the COVID-19 pandemic in industries that were most impacted by it. Grants are for businesses that have not been eligible for state grants and most of the federal emergency support thus far.
Business owners can learn more and apply for the Illinois B2B NewBiz grant on the grant portal, at https://b2bnewbiz.com, until January 11, 2024. To be eligible for a grant award of up to $30,000, for-profit businesses and non-profit organizations must meet all of the following criteria:
- Started operations between January 1, 2020, and December 31, 2021.
- Had gross receipts of at least $25,000 and up to $20,000,000 in 2021 (annualized if started during 2021).
- Currently has active operations in Illinois.
- Have not received a Back to Business (B2B) grant prior to 2023.
- Including Business Interruption Grant, Back to Business Grant issued prior to 2023, Shuttered Venue Operators Grant, or Restaurant Revitalization Fund Grant.
- Must meet one of the following two criteria:
- The business or nonprofit is in a priority industry as defined for the previous Back to Business grant program (a list of priority industries and their definitions can be found here).
- The business is majority owned by an individual or individuals who became eligible for and received unemployment insurance benefits – including from Pandemic Unemployment Assistance – between March 13, 2020, and the date the business began operations.