The Illinois Department of Commerce and Economic Opportunity (DCEO) has established the Downstate Small Business Stabilization Program (DSBSP) in response to the COVID-19 pandemic. The DCEO is designating $20-million in CDBG funds for the DSBSP, which will offer small businesses in downstate and rural counties in Illinois the opportunity to partner with local governments to obtain grants equal to 60 days of verifiable working capital up to a maximum of $25,000. The grants will be offered on a rolling basis.
The City of Quincy will apply on behalf of eligible businesses located within the city. The businesses must have 50 or fewer employees. The application for the DSBSP requires information provided by the city and by the eligible business. The DCEO says its goal is to execute grants within 30 days of the receipt of an application.
RULES & REGULATIONS (Document includes summary and full list of requirements)
APPLICATION (Document includes portion of application that business must complete)
***Those intending to apply are asked to call the City of Quincy’s Planning & Development Department prior to filling out the application. The direct line for the DSBSP application process is 217-221-3663***
Providing application information to the City of Quincy does not constitute a completed application, nor does it provide a guarantee of the awarding of the grant. Any information submitted to the city during the application process will be considered a public record.
Completed applications and attachments need to be submitted to P&D@quincyil.gov .
The Illinois Department of Commerce and Economic Opportunity says the following businesses are ineligible for the program (as of April 2, 2020)
- Businesses that have both Essential and Non-Essential activities
- Not-for-profit Businesses
- Independent Contractors
- Franchises or Chain Businesses
- Businesses that involve the use of cannabis for medical and/or recreational purposes are not eligible to apply as this grant is federally funded
- Private Club or Business that limits membership for reasons other than capacity
- A business that derives at least 33% of its gross annual revenue from legal gambling activities, unless, subject to the DCEO’s approval, the business is a restaurant with gaming terminals
- Businesses engaged in manufacturing or selling at wholesale: tobacco products, vaping, liquor or sexually-explicit materials or in the business of manufacturing or selling firearms at wholesale or retail
- Liquor Store
- Adult Bookstore
- Non-Therapeutic Massage Parlor
- Strip Club
- Night Club
- Pawn Shop
- Storage Facility
- Trailer-Storage Yard
- Junk Yard
- A business in which a majority owner or member of the immediate family is an elected official of the unit of local government making the application and receiving the grant
- An establishment similar to any enumerated above
- Or any other business subsequently deemed ineligible by the U.S. Department of Housing and Urban Development.