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New Lake County Small Business Assistance COVID-19 Grant Program

Updated: Jul 7


APPLICATIONS OPEN TODAY


CHAMBER UPDATE:  July 7, 2020

LAKE COUNTY SMALL BUSINESS GRANT PROGRAM APPLICATIONS OPEN TODAY

Starting today, July 7th, small businesses in Lake County can apply for the Small Business Assistance COVID-19 Grant Program. Businesses can 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, Plexiglas, masks, sanitization services/materials, employee training, etc. (Please note: The application period will be open for 2 weeks with submissions accepted until July 20). 

DETAILS:  The Lake County Board allocated $10 million to fund the Lake County Small Business Assistance COVID-19 Grant Program. Lake County Partners is administering the program, with final grant approval and dispersing of funds performed by Lake County. CLICK HERE FOR APPLICATION & MORE INFO

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 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 a webinar on one of the following dates:

Wednesday, July 8, 2 p.m.

Join Link

Meeting ID: 914 5527 5652

Password: 315050

Call in Number: 1-312-626-6799

Tuesday, July 14, 10 a.m.

Join Link

Meeting ID: 911 7245 6555

Password: 212244

Call in Number: 1-312-626-6799

Monday, July 20, 8:30 a.m.

Join Link

Meeting ID: 921 0926 0251

Password: 626422

Call in Number: 1-312-626-6799

MORE SMALL BUSINESSES WEBINARS…

Small Business Webinar on PPP Loan Forgiveness

Thursday, July 9 at 4:00pm

Attendees may register to stream the conversation on Zoom at:

https://us02web.zoom.us/webinar/register/WN_Nk8s4yM3Q5upw0ccOyp51g

Congressman Brad Schneider will host a webinar on loan forgiveness requirements for the Paycheck Protection Program (PPP) and associated tax implications for recipient businesses and organizations. He will be joined by guests from the US Small Business Administration (SBA) and CPA accountants from American Institute of Certified Public Accountants (AICPA) to help answer constituent questions.

Latino-Owned Business Roundtable Discussion

Friday, July 10, 2020 at 10:00am

Attendees may register to stream the conversation on Zoom at:

https://us02web.zoom.us/webinar/register/WN_DMdC0qEoT3e1z5Ie1z4qvA

Congressman Schneider will host a conversation on the resources available to help small businesses during the COVID-19 pandemic and the challenges and opportunities facing Latino-owned businesses in our area.

NEED ASSISTANCE?

The Illinois Small Business Development and International Trade Center at College of Lake County is available for virtual appointments. Their services are free of charge and they have a team of advisers ready to discuss emergency funding options for your business.  To schedule an appointment click HERE.





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