B2B Grants for Restaurants, Hotels and Creative Arts Businesses Returns

Lawndale News Chicago's Bilingual Newspaper - Business

The Illinois Department of Commerce and Economic Opportunity (DCEO) announced $175 million in available grant funding through the Back to Business (B2B) program. Following state recovery for businesses totaling nearly $1.5 billion, the latest American Rescue Plan Act (ARPA) -funded opportunity is designed to provide additional support for the hardest-hit sectors, including restaurants (B2B Restaurants), hotels (B2B Hotels), and businesses or organizations in the creative arts sector (B2B Arts). To provide hands-on support and raise awareness about the program, the State has mobilized a network of more than 100 community navigators across Illinois. As outlined in statute, B2B Arts and B2B Restaurants grant award amounts will be determined by revenue declines, as reflected on tax returns, and funding for hotels will be allocated by number of rooms. Applications are open through May 10, 2023 and awards are expected to be made several weeks after the deadline date. All eligible applicants will receive a grant as long as the business meets eligibility requirements and submits proper documentation and attestations.  The program design is based on legislation establishing the Restaurant Employment and Stabilization Grant Program ($50 million), Hotel Jobs Recovery Grant Program ($75 million) and the Illinois Creative Recovery Grant program ($50 million). The funding is designed to offset losses and support job retention in the hardest-hit industries. To apply, visit www.illinois.gov/b2b

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