Grant program for microbusinesses FBCHICAGO – With the global COVID-19 pandemic forcing thousands of businesses to close, Assistant Majority Leader Iris Y. Martinez (D-Chicago) encourages eligible Chicago business owners to apply for the new Microbusiness Recovery Grant Program.

“While well-intended, many of the assistance programs available are not accessible to the smallest business owners,” Martinez said. “This program offers relief for the working people who desperately need it.”

The Microbusiness Recovery Grant Program will award 1,000 businesses with four or fewer employees a one-time grant of $5,000. The grant money, funded entirely by private donations, must be used as working capital for expenses such as payroll, rent, insurance or taxes. Applications are available in English and Spanish on the City of Chicago’s website and are due by 5 p.m. on Monday, May 4, 2020.

Eligibility requirements for the program include:

·      Four or fewer employees,

·      Less than $250,000 annual revenue,

·      Located in the city of Chicago,

·      In business for at least one year,

·      25% decrease in revenue due to COVID-19, and

·      Located in a low- or moderate-income Community Area.

Applicants must provide a valid ID and completed W9 form. CityKey is an accepted form of ID. Recipients will be chosen by a lottery on May 11 and issued their grant within two business days.

Category: News Releases

COVID19 Updates

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Springfield Office:
413 Capitol Building
Springfield, IL 62706
(217) 782-8191
 
District Office:
2921 N. Milwaukee Ave.
Chicago, IL 60618
(773) 278-2020

 

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