West Central Reporter

The Macomb City Council is considering participation in a special state program awarding grants to small businesses hit hard by the COVID-19 crisis.

Community Development Coordinator John Bannon recently spoke with the council about the Downstate Small Business Stabilization Program, which would award grants of up to $25,000 per business.

The Illinois Department of Commerce (IDOC) recently decided to make use of the option to adjust how it allocates funds from the federal Community Development Block Grant Program (CDBG) in order to assist small businesses struggling under government restrictions intended to combat the coronavirus pandemic, according to the McDonough County Voice.

According to the IDOC website, the Downstate Small Business Stabilization Program will use $20 million in CDBG money to fund grants of up to $25,000 to small Illinois businesses.

The money from the program is intended to provide up to, “60 days of verifiable working capital up to a grant ceiling of $25,000,” according to the website.

Including the owner, a business can have no more than 50 employees to be eligible for the program.

The grants will be for private, for-profit businesses in the retail or service industries, or other businesses that have been declared non-essential under state COVID-19 restrictions and that lack the ability to have workers continue their jobs from home.

Applications have to be submitted through a municipality, and Bannon told the council that each application will require a separate resolution from the council.

Mayor Mike Inman told the council that the Macomb Area Chamber of Commerce and the Macomb Area Economic Development Corporation are helping to get the word out to local businesses.

Due to additional eligibility restrictions detailed on the IDOC website, competition for the grants will be mostly restricted to smaller communities.

Additional information about the Downstate Small Business Stabilization Program can be found on the IDOC website.