PEORIA, Ill. — The City of Peoria is giving businesses a chance to recover losses due to the COVID-19 pandemic.
Peoria applied for a grant from the State of Illinois, and received nearly $1.2 million.
Chris Setti, CEO of the Greater Peoria Economic Development Council, told WMBD’s “The Greg and Dan Show”, each grant is worth up to $5,000 to Peoria businesses.
“Hotels are separate, they’re handled differently. But, every other kind of business, there are three different grants that businesses can apply for,” Setti said.
Businesses can apply for one, or all of the grants, Setti adds.
The most applicable grant, according to Setti, is the Sustainability Grant, which covers costs and lost revenue due to COVID-19.
The other two grants are the Capacity Grant, which deals with expanding mostly restaurant seating capacity in response to COVID mitigation regulations, and the Transformation Grant, which will help a business expand its scope beyond what it currently does, in response to the pandemic.
“Businesses can get up to $15,000 from these grants,” Setti said.
The only restriction for applying for Peoria’s Business Recovery Grants is, if a business has already received funding from the Business Interruption grants, it is not qualified to apply.
“It all kind of comes from the same source, which is the Federal Cares Act. So, you’re not allowed to double dip,” Setti said.
For more information about the City of Peoria Business Recovery Grants, click HERE.
