LAKE COUNTY, Ill. – Beginning today, small businesses earning less than $2.5 million annually can apply online for grants of up to $30,000 to cover expenses incurred because of COVID-19. Lake county received $121.5 million in federal grants to offset costs associated with COVID-19.
The small business grants are intended to cover up to four months of rent, mortgage and utilities as well as any additional expenses incurred because of COVID-19. New equipment, plexiglass, masks, training, and sanitization services or materials can be reimbursed.
The Lake County Small Business Assistance COVID-19 Grant Program will be administered by Lake County Partners with final grant approval and dispersing of funds performed by Lake County.
Who Qualifies for the Grants
Small businesses in Lake County that meet the following requirements may apply for the program:
- For profit, incorporated business (e.g., LLC, S Corp, Partnership, Sole Proprietorship, etc.)
- In business prior to February 15, 2020
- Earn less than $2.5 million in annual revenue
- Significant, documented negative business impact from COVID-19
- Preference will be given to businesses that have not received federal assistance from prom programs like the Paycheck Protection Program or Economic Injury Disaster Loan
Independent contractors are not eligible for the grants.
Where to Get More Information
Small businesses can apply online at lakecountyil.gov/forward after at 8 a.m. on July 7. The application period will be open for two weeks, with submissions accepted until July 20 at 11:59 p.m.