Back to Business Grant Program

The State of Illinois has announced the $250 million Back to Business (B2B) grant program, which will issue small businesses recovery grants for those hit hardest by the COVID-19 pandemic. The B2B grant program is financed with Illinois designated American Recovery Plan Act (ARPA) funds.

The $250 million in funds will be disbursed across the state, including the following allocations:

Grants will range from $5,000 to $150,000 per business and can be used to cover a wide range of operations/staff/overhead costs.  For hotels, the grant may be as much as $250,000.

Who is eligible?

Eligible businesses are those with revenues of $20 million ($35 million for hotels) or less in 2019 that experienced a reduction in revenue of at least $5,000 in 2020 due to COVID-19.

As many Illinois businesses will meet this requirement, the program has indicated that priority will be given to the following categories:

How much is the grant?

The grant seeks to replace two months of revenue decline.  The formula takes the difference between 2020 revenue and 2019 revenue, and divides that amount by 6. The total is rounded up to the next $5,000 and is subject to the $150,000 ($250,000 for hotels) limits noted previously.

How do I apply for the grant?

Grant applications are submitted through a portal which is open now and closes at the beginning of October. Unlike the PPP, the State advises applicants that the speed of application is not as important as submitting a complete and accurate application. The application will require the driver’s license of the business owner as well as completed and filed 2019 and 2020 tax returns.

Upon receipt the application will be graded based on the priority groups outlined above.  For example, a restaurant in a DIA area that has a significant reduction in receipts but did not qualify for a PPP loan or RRF assistance would receive a high priority score. Applications will be reviewed on a rolling basis based on priority.

As with prior initiatives, Cray Kaiser is here to support you with application assistance.  Please contact Cray Kaiser if we can help in any way.

<< Back to all blogs

The Second Round of PPP Loans: What You Need to Know

Tax Payment Deadline Delayed by 90 Days

Here Comes the Math: Download PPP Loan Forgiveness Templates