Contact Information: Joan Olson (630) 407-6015 or Evan Shields (630) 407-6022
Tuesday, August 11, 2020
DuPage County Expands Small Business Relief Program
The DuPage County Board on Tuesday voted to remove a restriction from the County’s Reinvest DuPage small business grant relief program.
In May, the Board allocated $7 million in monies received under the federal CARES Act for a grant relief program developed in partnership with Choose DuPage for small businesses and independent contractors impacted by COVID-19. The Board set aside an additional $10 million in June for use through the same program.
Previously, businesses or independent contractors could not apply for the grant program if they had received assistance from the federal Paycheck Protection Program, the Economic Injury Disaster Loan, any state hospitality grant, or any local loan or grant program. The County Board action on Tuesday removed that restriction from the application criteria for the Reinvest DuPage program.
“Our small business community continues to be hit hard by the COVID-19 pandemic, and removing this restriction broadens the initiative’s reach, allowing us to continue to help businesses and support economic development in DuPage County,” said Chairman Dan Cronin.
The program provides grants of up to $15,000 for DuPage County-based businesses with fewer than 15 full-time employees and less than $1.5 million in annual revenues. Monies received under the program may be used for payroll, rent, mortgage payments, utilities, and other expenses necessary to maintain operations. A 1099 contractor whose annual income is less than $100,000 can also receive relief through the program.
As of Tuesday, DuPage County has provided $5,922,877 for 563 grants for local businesses and independent contractors.