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Lake County to begin accepting applications for Small Business Assistance Grant Program on July 7

by Public Relations and Marketing | Published Jul 06, 2020

Approximately 86 percent of the businesses in Lake County have less than 20 employees. Restaurants, day cares, accounting firms, auto repair shops and many other small businesses are the engine that drives the local economy. They have been hurt by COVID-19 and many don’t have enough cash on hand to stay open for long.

The Lake County Board has allocated $10 million to fund the Lake County Small Business Assistance COVID-19 Grant Program to provide grants that will enable these businesses to remain open, keep their employees and strengthen our local economy.

Beginning July 7, 2020, businesses will be able to apply online for up to $30,000 to cover up to four months of occupancy costs (rent, mortgage, utilities) as well as expenses incurred due to COVID-19 (new equipment, plexiglass, masks, sanitization services/materials, employee training, etc.).

“A strong economy is one of the best reasons for people to continue living, working and enjoying life in Lake County,” said Mitch Bienvenue, director of the Illinois Small Business Development & International Trade Center at CLC.

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.

Small businesses in Lake County that meet the following criteria are eligible to apply for the program:

  • For profit, incorporated business (e.g., LLC, S Corp, Partnership, Sole Proprietorship, etc.) - Independent contractors are currently not eligible
  • In business prior to February 15, 2020
  • Earn less than $2.5 million in annual revenue
  • Must be able to document a significant negative business impact from COVID-19
  • Preference will be given to businesses that have not received Federal Assistance (i.e., Paycheck Protection Program or Economic Injury Disaster Loan)

Lake County small businesses that meet the above requirements may apply online at beginning 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.

About College of Lake County:

The College of Lake County is a comprehensive community college committed to equitable high-quality education, cultural enrichment and partnerships to advance the diverse communities it serves in northeastern Illinois. Offered at three campuses in Grayslake, Vernon Hills and Waukegan or online, college classes are affordable and accessible to help each student achieve academic, career and personal goals. More than 70,000 students graduated with degrees and certificates since the college opened in 1969. The College of Lake County is the only higher-education institution ranked among the top 15 best places to work in Illinois by Forbes and is a national leader in many areas, including sustainability and conservation.