NEW
- DuPage Small Business Relief Grant Program
Applications Open Monday Morning,
May 18 at 9am
There is only 7 Million dollars in this fund, which will go fast! If applicable, gather your information needed below and apply first thing in the morning.
- Small businesses with fewer than 15 full-time employees and less than $1.5 million in annual gross revenue may apply for a grant up to $15,000.
- Independent contractors with more than 50% of their annual gross income coming from 1099 work, and an annual gross income of less than $100,000 may apply for a grant up to $7,500.
- Businesses and contractors that have received other funds intended for this purpose (i.e. PPP, EIDL) are not eligible.
- A business or 1099 independent contractor located in DuPage County, Illinois.
- In business as of February 15, 2020.
- Your business has been affected by COVID-19, making this grant request necessary to support your ongoing operations.
- You are a small business, have less than 15 full-time employees, and less than $1.5 million in gross annual revenue.
- You are a 1099 independent contractor, at least 50% of your gross income come from 1099 work, and your annual gross income less than $100,000?
HOW TO APPLY
The application will ask for information about your business including how it is organized, years in business, number of employees, annual revenue/income, etc. You will need to provide a description of how your business has been impacted by COVID-19 including anticipated revenue decline or less, the purpose of your loan request, and a detailed breakdown of how those funds will be used.
If your application is conditionally approved, you will also need to provide the following:
- Income statement for year ending in 2019 (e.g. Form 1120, Form 1065, Form 1040)
- Proof of costs for which the funds are being requested (e.g. payroll records, rent or mortgage statements, utility bills)
- Secretary of State Certificate of Good Standing (for corporations)
- Proof of revenue decline
HOW IT WORKS
Once we have received your application, it will be reviewed by a committee. You will be notified via email if your application has been approved or denied. If your application has been conditionally approved, you will receive instructions on any additional information or documentation needed, as well as how funds will be dispersed. After receiving funds, you will be required to provide proof that the funds were used for their intended purpose.
