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City of Peoria Awards $950,000 through Business Recovery Grant Program

Fifty-Seven Businesses Received Grants Up to $50,000

The city of Peoria Economic Development Department recently distributed more than $950,000 to local businesses through two rounds of the Business Recovery Grant (BRG) Program. Established in November 2020, the BRG program provided grants to Peoria-based businesses on a reimbursement basis to offset higher costs of operations associated with COVID-19. Monies for this program were provided by the Illinois Department of Commerce and Economic Opportunity (IDCEO) to the City via the CURES Act Economic Supports Payment Program.

Economic Development and Finance staff were able to quickly distribute funds to fifty-seven businesses within three months, beginning with the establishment of the program in November and the distributions in January of this year. Grant allocations ranged from $533 to $50,000. Out of ninety-seven grant applications, forty-eight percent were submitted from minority-owned businesses.  Businesses that received funding from the Business Interruption Grant disqualified them from receiving any BRG funding.

Assistant City Manager and Economic Development Director Deborah Roethler stated, “Our Economic Development staff have been hard at work to maximize the money going to businesses that were impacted by the COVID-19 crisis. Not only were we able to provide some sizeable grants, but we were able to do so quickly to ensure that businesses could immediately put that monetary relief to use and stabilize their future.”

Businesses were able to apply for reimbursement of expenses in two different rounds of funding under the categories of sustainability, capacity building and business transformation. Each grant allowed for reimbursement of up to $5,000 (per category, per round) of their specific costs related to COVID-19 mitigation and response.  Sustainability grants reimbursed basic expenses such as rent, utilities, and other operating expenses. Capacity Building grants provided funds to support service to customers due to capacity limitations. Examples of these expenses include modifications to provide outdoor experiences. Business Transformation grants provided funding to adapt the business model to meeting changing consumer demands, such as providing delivery services to pivot from an inbound customer experience to delivery model.  Businesses could apply in all the categories and in both rounds.

Reimbursement amount varied based on the type of service provided. Businesses were eligible for up to $15,000 of reimbursement.  Hotels were eligible for up to $25,000, based on the number of rooms and eligible expenses. Awards within each category required a demonstration of eligible expenses for reimbursement.
For more information on the Economic Development Department and programs, please visit Grow Peoria or call 494-8640

022321-BRG-Recipient-List_1614093954.pdf 022321 BRG Recipient List

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