Oswego-based businesses have just two days to apply to a second round of grants, worth up to $20,000 total,to mitigate the effects of COVID-19.
Monday, Dec. 21, the Village of Oswego announced that additional funds became available for Local CURE Economic Support grants.
The deadline to apply is 5 p.m. on Wednesday, Dec. 23.
Businesses that applied in the first round of Local CURE Economic Support grants will be considered for funding again and do not need to reapply, regardless of whether they were initially approved for funding. Businesses that did not apply in the first round of grant funding should apply by 5 p.m. Wednesday, Dec. 23.
The application is available at www.oswegoil.org/business.
Businesses can receive funding from any combination of four grant programs:
- The Rent Assistance Grant provides up to $5,000 for businesses struggling to pay rent because of the pandemic.
- The Restart Grant provides up to $5,000 in working capital for businesses to reopen following a temporary closure or substantially reduced hours, including expenses related to inventory, payroll and improvements related to complying with Illinois DCEO COVID-19 mitigation guidelines.
- The Restaurant Operations Grantprovides up to $5,000 for costs related to expanding outdoor dining, establishing carryout service, contactless ordering, certain marketing expenses, and similar costs.
- The Business Support grant provides up to $10,000 to replace revenue lost because of the COVID-19 pandemic that is not otherwise offset by the other three grant programs. Grant funds must be used to support continued operations, maintain payroll, pay off lines of credit used because of the pandemic, or otherwise be reinvested into the business.
Business owners may apply for multiple grants, but the total awarded for all grants cannot exceed $20,000. Full terms and conditions of each grant program are available within the application. Businesses can apply for multiple grants through a single application.
In the first round of grants, the Village of Oswego awarded a total of $250,000. Between $500 and $15,000 was distributed to each of 46 businesses that demonstrated need because of the COVID-19 pandemic. It is unknown how much total funding will be made available in this round of funding, but all Oswego-based businesses that have been impacted by COVID-19 and believe they may be eligible for funds are encouraged to apply.
The Village of Oswego secured funding for this grant program through theIllinois Department of Commerce and Economic Opportunity via the Federal CARES Act. Applicant businesses must meet certain eligibility standards set by the Illinois DCEO, and businesses that have already received Business Interruption Grants from the State of Illinois are not eligible for this grant program.
Grant funds must be used to mitigate the impact of COVID-19 on business from March 1 through December 30, 2020. Businesses seeking assistance will need to submit documentation of expenditures or income loss. Refer to the application for full eligibility and documentation requirements.
Grant applications will be accepted through 5 p.m. on Wednesday, Dec. 23. For full grant criteria and the online application, visit the Village of Oswego’s website at www.oswegoil.org/business. Business owners with questions about this program should contact economic development director Scott McMaster at 630-551-2334 or smcmaster@oswegoil.org.
-Village of Oswego