Chambana Sun

Sen. Paul Faraci (D-Champaign) shared a message about a state grant program in a Facebook post published April 5.

"Applications are OPEN for Illinois’ $175M #ILB2B grant program for the creative arts, hotel & restaurant industries!" Faraci wrote. "Learn more about the program: www.illinois.gov/b2b. Apply today (via NCRC CDF): http://bit.ly/40gmBuT."

According to the Illinois Department of Commerce & Economic Opportunity (DCEO), the Back to Business (B2B) grant program for creative arts, hotels, and restaurants, is part of an effort by the aforementioned department in cooperation with the state's Business Interruption Grant (BIG) program. Between both parties, the DCEO has provided over $535 million to over 15,000 businesses.

"Eligible restaurants, hotels, and creative arts businesses are eligible to apply for $175 million in available grant funding as part of our efforts to support ongoing recovery in hard-hit industries," the official program webpage reads. "All applicants will receive a grant as long as they meet eligibility requirements, submit proper documentation, and attestations required by the program."

Of the $175 million available, $50 million is available for restaurants, $75 million is available for hotels, and $50 million is available for creative arts. Of the three industries, the hotel industry is the only one with strict guidelines on how the money must be spent. 80% must be spent of payroll, while the remaining 20% is flexible.

"Eligible existing small businesses who experienced business interruption or adverse conditions due to COVID-19 may apply," the official Community Development Fund webpage reads. "Award amounts will vary and are subject to review and adjustment pending application volume, reported losses, and take into account previous grant awards received."

Applications are being accepted through May 10 and are reviewed as submitted through May 15. Grantees should receive notifications of awards and funding disbursement from June through July.

Paul Faraci has served in the Illinois State Senate since January and is assigned to the following committees: Agriculture; Approp Ed; Labor (Vice-Chair); Higher Education; and Health and Human Services.