Deadline: 04-Dec-20
The City of O’Fallon has announced the O’Fallon Small Business Relief Fund Grant Program in efforts to stabilize and fortify small businesses negatively impacted by the COVID-19 pandemic.
Grants will be awarded to businesses to help address the cost of business interruption including fixed debts, payroll, accounts payable, lost sales, lost opportunities, and other working capital expenses that could have been recognized had the COVID-19 pandemic not occurred. Priority will be given to targeted small businesses including restaurants and bars, spas and salons, retail stores, and businesses within the tourism and hospitality industry.
Targeted Businesses and Industries
Priority will be given to targeted small businesses and industries including those that are:
- Restaurants and bars;
- Businesses within the tourism and hospitality industry;
- Spas and salons;
- Retail stores.
Funding Information
- The O’Fallon Small Business Relief Fund will provide a total of $750,000 in direct payments to small businesses that have experienced significant disruption or temporary closure (a “business interruption”) of their business attributable to the COVID-19 public health emergency.
- The program is a general operating grant program. Award payments will not need to be paid back to the City unless the business is permanently closed within 3 months after the payment date.
- The minimum grant award amount is $5,000. Grant awards will vary based on staff size, annual revenue, number of locations within and outside of City boundaries, and the extent and nature of the business interruption directly attributable to the COVID-19 public health emergency.
Eligible Businesses
Businesses must meet the following eligibility requirements to apply for the O’Fallon Small Business Relief Fund and be considered for direct payment:
- The business must be a for-profit enterprise or non-profit organization lawfully conducting business in Illinois.
- Be in good standing with the City of O’Fallon and the State of Illinois (i.e. no tax delinquencies, food/beverage tax and/or hotel/motel tax paid to date, and possess valid business registrations and licenses).
- Have been established and possess a valid Business Registration with the City of O’Fallon, Illinois prior to March 1, 2020.
- Provide all required financial documentation requested under Required Documentation.
- Compliance with all relevant laws, regulations, and executive orders from the State and federal government, including the social distancing guidelines as promulgated by the Executive Orders of the Illinois Governor.
For more information, visit https://www.ofallonillinois.org/ofallon-small-business-relief-fund/