(WTTW News)
Small businesses and nonprofit organizations struggling to regain their footing during the COVID-19 pandemic have until Nov. 12 to apply for a new round of grants from the city of Chicago.
Fueled with $20 million in federal relief funds approved in 2020, small businesses and nonprofits grappling with lower-than-expected revenue and higher-than-expected costs can apply for grants between $5,000 and $10,000, said acting Department of Business Affairs and Consumer Protection commissioner Ken Meyer.
“We’re going to recharge Chicago’s economy,” Meyer told WTTW News.
To qualify for the grants from the city’s Chi Biz Strong grant program, businesses and nonprofits must have less than $3 million in annual revenue. Officials plan to earmark 80% of the grants for businesses and nonprofits in low- and moderate-income neighborhoods, which were hit hardest by the pandemic. In addition, 25% of the grants awarded to nonprofit organizations will be set aside for organizations generating less than $1 million in annual revenue, officials said.
“By extending year-end lifelines of flexible funds to thousands of grantees, we will increase economic opportunity in the surrounding areas and promote critical nonprofit services and programs,” Mayor Lori Lightfoot said in a statement. “Furthermore, supporting our businesses is essential to ensuring a strong, post-pandemic comeback for our entire city.”
In all, the city has set aside more than $100 million for businesses forced to reduce operations or shutter entirely during the COVID-19 pandemic. That is the largest amount of relief funding provided by any U.S. city, according to the mayor’s office.
An additional $2 million will be used to send grants of $5,000 to small restaurants and bars whose owners want to continue to serve diners and drinkers outside. The funds can be used to buy outdoor furniture, pandemic-related signs and personal protective equipment, officials said.
“We want to keep outdoor dining strong in Chicago,” Meyer said. “I know we’re not in Miami Beach but Chicagoans are tough.”
More information about the program, including recordings of webinars about the program, and applications are available online.
Contact Heather Cherone: @HeatherCherone | (773) 569-1863 | [email protected]
