UPDATE 4/9/2020: Per Crain’s Chicago —
More than 12,000 applied for the grants, and 700 were drawn at random from a pool of applications. The winning 450 bars and restaurants each will get an average of $14,000, which can be used for payroll and general corporate purposes. The 250 small hotels get an average of $30,000. Officials said they are looking for other sources of funds to offer more grants in the future.
To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, the State of Illinois launched the Hospitality Emergency Grant Program. Grant funds are available to support working capital like payroll and rent, as well as job training, retraining, and technology to support shifts in operations, like increased pick-up and delivery. Eligible businesses include:
Find application here. Applications are due April 1st by 5PM. Winners will be selected through a lottery.
|
Source: Hospitality Emergency Grant Program | Accion
If this or any other posts on the website were useful to you, and your financial situation permits it, please consider contributing to my tip jar. This allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.