Emergency Business Relief - City of Galena

Emergency Business Relief

Three new emergency funding programs were introduced by the State of Illinois on March 25 for businesses negatively affected by the coronavirus pandemic. Please review the information below to determine the eligibility of your business for the grant and/or loan programs. Applications for the Downstate Small Business Stabilization Program must be submitted to the City of Galena as explained below.

 

1. Downstate Small Business Stabilization Program  APPLY HERE

To support small businesses in downstate and rural counties across Illinois, including Galena, DCEO is repurposing $20 million in CDBG funds to stand up the Downstate Small Business Stabilization Program. This Fund offers small businesses of up to 50 employees the opportunity to partner with their local governments to obtain grants of up to $25,000 in working capital.  These grants will be offered on a rolling basis.

Add new content here about how to apply

Galena businesses must submit their completed application to the City of Galena by emailing the application to: COVID-relief@cityofgalena.org

 

2. Hospitality Emergency Grant Program  APPLY HERE

To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, DCEO is launching the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes. Grant funds are available to support working capital like payroll and rent, as well as job training, retraining, and technology to support shifts in operations, like increased pick-up and delivery. Bars and restaurants that generated between $500K and $1M in revenue in 2019 are eligible for up to $25,000, and bars and restaurants that generated less than $500K in revenue in 2019 are eligible for up to $10,000. Hotels that generated less than $8M in revenue in 2019 are eligible for up to $50,000. Businesses must make this application themselves. The City of Galena is not involved in the application preparation or submital.

More program information HERE.

 

3. Illinois Small Business Emergency Loan Fund  APPLY HERE

DCEO and the Illinois Department of Financial and Professional Regulation (IDFPR) are establishing the Illinois Small Business Emergency Loan Fund to offer small businesses low interest loans of up to $50,000.

Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 are eligible to apply. Successful applicants will owe nothing for six months and will then begin making fixed payments at a below market interest rate for the remainder of a five-year loan term. 

More program information HERE.

Express interest in program funding HERE.

The City of Galena
101 Green Street
Galena, Il 61036
T 815.777.1050
F 815.777.3083
Email
Hours: 8:00 a.m.-4:30 p.m. M-F
About Us
The City of Galena is located in the unglaciated area of Northwest Illinois. Our rolling hills, history, 19th century architecture and opportunities for year round outdoor recreation attract nearly a million visitors a year. Galena is a safe, healthy and vibrant place to raise a family, start a business or enjoy retirement. Click here for a short video about Galena’s unique lifestyle.
© 2020 The City of Galena. All Rights Reserved.   |   home   |   sitemap  |  calendar  |  privacy policy  |  linking policy  |  disclaimer  |  copyright notice  |  contact us
© 2020 The City of Galena. All Rights Reserved.