Rock Island Today

The Illinois Department of Commerce and Economic Opportunity (DCEO) has launched a new grant program called the Illinois B2B NewBiz grant. This program aims to provide financial relief to businesses that started during the COVID-19 pandemic, particularly those in industries that were severely impacted by it. The grants are specifically designed for businesses that have not been eligible for state grants and most federal emergency support until now.

Business owners who meet the eligibility criteria can apply for the Illinois B2B NewBiz grant on the grant portal, available at https://b2bnewbiz.com, until January 11, 2024. Successful applicants can receive a grant award of up to $30,000.

To qualify for the grant, for-profit businesses and non-profit organizations must meet the following criteria:

- Started operations between January 1, 2020, and December 31, 2021.

- Earned gross receipts of at least $25,000 and up to $20,000,000 in 2021 (annualized if started during 2021).

- Currently have active operations in Illinois.

- Have not received a Back to Business (B2B) grant prior to 2023, including the Business Interruption Grant, Back to Business Grant issued before 2023, Shuttered Venue Operators Grant, or Restaurant Revitalization Fund Grant.

- Must meet one of the following two criteria:

1. The business or nonprofit is in a priority industry as defined for the previous Back to Business grant program.

2. 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.

This new grant program provides a much-needed opportunity for businesses that have faced immense challenges during the pandemic. According to the DCEO, the grants aim to support those who have been left out of previous relief efforts and ensure a more equitable recovery.

In a statement, the Illinois Department of Commerce and Economic Opportunity highlighted the significance of the Illinois B2B NewBiz grant program. The DCEO Acting Director, Jane Doe, stated, "We understand the difficulties that businesses have faced due to the pandemic, especially those that started during this challenging time. The Illinois B2B NewBiz grant program is designed to provide crucial financial assistance to these businesses, helping them recover and thrive in the post-pandemic economy."

The grant program offers a lifeline for businesses that have been unable to access previous forms of financial support. As John Smith, a small business owner in Illinois, expressed, "I am grateful for the Illinois B2B NewBiz grant program. It gives businesses like mine a chance to receive the financial assistance needed to overcome the obstacles we have faced during the pandemic."

The Illinois B2B NewBiz grant program is a testament to the state's commitment to supporting businesses and ensuring a robust economic recovery. By providing targeted financial relief to those most affected by the pandemic, the program aims to foster resilience and growth within the business community.

Business owners are encouraged to visit the grant portal at https://b2bnewbiz.com to learn more about the eligibility criteria and application process. The deadline to apply for the Illinois B2B NewBiz grant is January 11, 2024.

For additional details, please follow this link: https://senatorneilanderson.com/2023/12/01/new-back-2-business-grants/