Downstate Stabilization Grants Up to $25,000 for Small Businesses with Less than 50 Employees

 Work Through Local Governments to Apply for DCEO Help

State Rep. Darren Bailey (R-Xenia) is advising the small businesses in his downstate, rural counties to consider applying for the Department of Commerce and Economic Opportunity (DCEO) ‘Downstate Small Business Stabilization Program Grants’ being made available to businesses with under 50 employees. $20 million in Community Development Block Grant (CDBG) funds are available through a partnership with local governments to obtain grants of up to $25,000 in working capital per business. These grants will be offered on a rolling basis.

“I am receiving calls from a growing number of mom and pop businesses who are worried about not qualifying for the program dollars targeted for the large employers,” said Rep. Bailey. “I encourage these small businesses that employ small numbers of workers to look into this program to help them make it through this temporary economic challenge.”

Local governments can apply on behalf of businesses with 50 employees or less. Only units of local government recognized by the Illinois Constitution and able to support economic development activities on a sufficient scale are eligible to apply for Economic Development grant funding. This includes cities, villages, and counties. Municipalities must not be a HUD direct Entitlement community or be located in an urban county that receives “entitlement” funds.

Businesses in the eligible areas should work with their local governments to submit applications. Application materials will be posted to the DCEO website on Friday, March 27, 2020 HERE. DCEO’s goal is to execute grants within 30 days of application receipt, after which funds will be accessible.

If you have questions about other COVID-19 resources or updates, please check in periodically at Rep. Darren Bailey’s web site at: repbailey.com.