Lake County has launched an important new small business assistance grant fund of $10 million to help local businesses impacted by COVID-19 reopen and adjust to the new operating environment. The intent of the grant is to cover occupancy and some operating costs for up to four months. Preference will be given to businesses that have not received Federal Assistance (i.e., Paycheck Protection Program or Economic Injury Disaster Loan).
Lake County has launched a new program with grants that cover 4.5-times average monthly rent, capped at $30,000, and can be used for payroll, business rent/mortgage, utilities, inventory, and incremental COVID-19 related business expenses.
A business must be located in Lake County, have less than $2.5 million in annual revenue and be incorporated, e.g., LLC, LLP, S Corporation, Sole Proprietor, etc. Currently, independent contractors are not eligible.
The online application will be open until 11:59PM on Monday, July 20, 2020.
For more information go to lakecountyil.gov/forward.
For Frequently Asked Questions please go to Lake County FAQs. Documentation listed in the FAQs must be submitted to apply.
Lake County Partners has scheduled an upcoming webinar to provide an overview of Lake County’s small business grant program and answering questions . It is recommended that businesses attend if they would like to learn more about the application process and criteria. Information for the webinar is as follows:
July 20, 8:30AM
Meeting ID: 921 0926 0251
Call in Number: 312.626.6799
Please reach out to FGMK's SALT practice with any questions.
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