The Lake County Board has allocated $10 million to support businesses through the Lake County Small Business Assistance COVID-19 Grant Program. The grant program was created to assist small businesses in Lake County that have been negatively impacted by due to COVID-19.
Beginning July 7, 2020 at 8 am, 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.)
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 lakecountyil.gov/forward 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.