Businesses and Commercial Landlords may apply for grants up to $30,000 to $50,000 under three strategic areas-sustainability, capacity building, and/or transformation. DEADLINE : January 18, 2021.
Our Business Recovery Grant Program provides reimbursement grants for businesses (now includes commercial landlords) negatively impacted by COVID. Grants are available to reimburse expenses in three strategic areas: sustainability, capacity building, and transformation. Key elements include:
- Maximum grant up to $15,000 for businesses and commercial landlords , with hotels up to $25,000 for Round 1, and and additional amount for Round 2 to double the grant max to $30,000 or $50,000.
- Grants of $5,000 each per expenditure category sustainability, capacity building, and transformation over 3 months for Round 1, and and double it for Round 2, for expenditures for the next three months.
- Grants limited to limited to a) revenue loss, b) three to six months of expenditures, or c) maximum grant per round.
- “Qualified Business” must meet the “eligibility criteria” which now includes commerical landlords (see below).
- “Commercial Landlord” is one who leases to a business tenant/s and/or leases 3 or more residential units (apt or sfh).
To be eligible for this grant business must meet the following criteria:
- Located in the City of Peoria,
- Demonstrate a revenue loss from 2019 to 2020, due to COVID-19,
- Prove “eligible expenditures” (3 to 6 consecutive months) between March 1 to Dec 30, not to include expenses previously covered by other grants/loans (PPP, EIDL, CDBG, EDA, etc)
- Not have received a Business Interruption Grant (BIG) from State on IL, and
- Comply with all federal, state, and local regulations.
Grant funds may be used to reimburse eligible and validated expenditures between March 1 to December 30, 2020.
