Applications are due soon to receive money from the Downstate Stabilization Fund.Greater Peoria Economic Development Council CEO Chris Setti said the assistance is available to businesses impacted by the COVID-19 stay-at-home order. "They can apply for up to $25,000. And it provides up to two months of working capital. And you had to have been a business that was forced to close in April. Even if you're able to be open now, you still qualify," Setti said.
The application period closes at 11:59 p.m. this Friday.
So far, the Greater Peoria EDC has submitted applications for 118 businesses and five local county governments looking for a cash infusion.
Businesses in Peoria and Pekin aren't eligible to participate in the program due to federal funding regulations. Pekin has set up its own small business assistance grant program, and Peoria is set to roll one out soon.
Click here for more info on the local Downstate Stabilization Fund applications.We’re living in unprecedented times when information changes by the minute. WCBU will continue to be here for you, keeping you up-to-date with the live, local and trusted news you need. Help ensure WCBU can continue with its in-depth and comprehensive COVID-19 coverage as the situation evolves by making a contribution.
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