DuPage County announced on June 18 the re-launching of its online portal for Reinvest DuPage, a grant relief program developed in partnership with Choose DuPage for small businesses and independent contractors. The program provide grants of up to $15,000 to sustain eligible businesses impacted by COVID-19.
DuPage County is funding this program with $7 million of the $161 million in monies received under the $2.2 trillion federal Coronavirus Aid, Relief and Economic Security (CARES) Act. Choose DuPage is administering the plan with support from DuPage County and local banking and financial experts.
The program will provide grants of up to $15,000 for DuPage County-based businesses with fewer than 15 full-time employees and less than $1.5 million in annual revenues. Monies received under the program may be used for payroll, rent, mortgage payments, utilities, and other expenses necessary to maintain operations. A 1099 contractor whose annual income is less than $100,000 can also receive relief through the program.
Recipients may not have received financial assistance from the federal Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) administered through the United States Snall Business Administration (SBA), any state hospitality grant, or any local loan or grant program.