DuPage County has announced that it will launch Reinvest DuPage, a grant relief program developed in partnership with Choose DuPage for small businesses and independent contractors. DuPage County will fund this initial program with $7 million in monies received under the federal CARES Act. These grants can be used for employee retention payroll, utilities, and rent. The online-only application portal is expected to launch at 9 a.m. May 18.
Criteria to apply for the grant include:
Small businesses with fewer than 15 full-time employees and less than $1.5 million in annual revenue may apply for a grant up to $15,000.
Independent contractors with more than 50% of their annual income coming from 1099 work, and an annual income of less than $100,000 may apply for a grant up to $7,500.
Businesses and contractors that have received other funds intended for this purpose (i.e. PPP, EIDL) are not eligible.
Choose DuPage will hold a webinar at 11 a.m. on May 15 to discuss the program with DuPage businesses. Registration for the webinar can be found here.