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okay well good morning everyone and welcome to the quad cities chambers update uh i'm sorry one second there we go quantitation for update on the business interruption grant program featuring adrian medunit from the illinois department of commerce and economic opportunity the quad cities chamber understands the current status of covid is making it difficult for your business to survive and thrive as your go to business resources we're here to help you access gain access to financial resources business intelligence and promotions we're also advocating for you on the local state and federal level members of our team are available to you so please reach out to me if you need help with anything and we'll get you connected to the right resources so let's get started um before i introduce our speaker i want to remind you if you have any questions that could come up because of the uh the content today that adrian's gonna be presenting please pop those into the q a box we're gonna have time at the end to answer some of your questions okay so let me introduce adrian medunic the illinois department of commerce and economic opportunity adrian is the northwest region manager for the the department of uh department of commerce and economic opportunity which we call dceo the northwest region consists of joe davies carol whiteside lee lasalle bureau putnam henry mercer and rock island counties um adrian is a native quad citizen and currently resides in east moline he graduated from black hawk college and augustana college and now i'd like to turn over to adrian for our presentation adrian thank you janelle i would like to thank the quad cities chamber for partnering with the illinois department of commerce and economic opportunity on this webinar like to thank janelle terry smith and marcie heider for all their assistance and i would like to encourage all quad city business area businesses to not just become a member of the chamber it's not about the sticker the chamber sticker that you have on the door of your business necessarily as it is uh asking them for assistance asking them for their advice and also engaging with them and offering your assistance i never knew a business owner that didn't like to talk about their business share best practices share what works what didn't work and the chamber is a great at not just advocate but avenue for businesses to get engaged to uh improve their business and to help their fellow community and fellow businesses in the community so thank you again to the quad cities chamber and their leadership and um we'll get rolling so there's a lot of information on these slides and the chamber will be sharing the slide deck with you uh and also i'm here locally i work for the department of commerce the ceo but i'm here local so if you have any questions on the big grant or any other small business resources as well as calling the chamber call me my cell phone number will be at the end of the slide program it's a 217 springfield central illinois area code but like i said i'm here locally and more than happy to help today we're going to be talking about the business interruption grant the big program and round two round one was earlier in the year in june and those awards were given out uh in august so we're talking about round two now this is a grant this is not a loan or a low interest loan this is not a tax credit these are funds that if you are awarded you do not have to give the funds back you don't have to give them back you don't have to pay them back you just have to follow the guidelines so again this is not a loan this is not a tax credit this is not necessarily an incentive this is a straightforward grant and there's about 70 of the total funds still available or on big grant program round two because of the pandemic governor pritzker and the illinois general assembly your legislators established a big program to provide relief to small businesses hit hard by the pandemic so this is a new program this is because of the pandemic and what it did to our local businesses this wasn't in existence a year ago or five years ago this is something new so 540 million dollars are available to be awarded in funding rounds to small businesses to reimburse costs incurred due to covet 270 million specifically for child care and early learning providers 49 million dollars in grants were awarded to 2 800 businesses in round one that was uh the applications began in late may and ran through june and the awards were made in august round one focused on restaurants personal services such as salons barber shops gyms fitness centers and businesses in severely disproportionately impacted areas and we'll talk about those areas later 200 million of the remaining funds will be available to all small businesses statewide that experience losses due to the pandemic so this is for businesses adversely affected by the pandemic so you've had a decrease in revenue or you've had no revenue or you've had expenses that are outside of the realm of your normal expenses you had to put plastic shielding up in your business you had to put signage up you had to have extra hours okay more than half of the funds of the 200 million that's remaining are for downstate communities and i believe everybody on this call is from what we call downstate 70 million of this will be earmarked for disproportionately impacted areas there's a link on our website for the dia's disproportionately impacted areas there's also a link on this slide deck so if you're f if your business is from the quad cities most of the city of silvas is in a disproportionately impacted area most of the city of rock island and most of the village of milan aren't dias okay so that will give uh your business a priority you'll move up on the priority level of getting the award uh okay our grant administrator is a third-party agency called oxyone and the reason for this is so far we've had close to 30 000 applicants and our agency just isn't big enough to process all these so oxiom is partnering with us on this they're the ones that do the intake of the applications the processing the notifying of people who are missing something from their application or something that needs to be spelled out a little bit better and they're the ones that will notify those who get awarded the grant and those who do not get awarded of the grant if we look at uh round two um this is the second round we'll see if we look at the state map you'll see rock island and henry county in a darker shade and you also see several other urban areas throughout the state peoria the chicagoland area rockford the metro east those are communities that have received more uh big grant awards and mostly because there's a bigger population there are more businesses there so but in my view i don't think being from the quad cities i don't think we've had enough businesses that have taken advantage of this program four thousand individual grants have been given out so far in round one and in the beginning of round two on monday this past monday businesses were notified uh that received funding in round two round two is not finished yet so up to date 95 million has been granted out 4 000 individual grants located in 469 different cities in illinois and in 89 of illinois's 102 counties there's about 175 million dollars remaining in big round two so that's most of the funding that's still available and we strongly encourage everybody to apply an example of the big grants round one in round two that have been awarded thus far you can see over 46 million have been for restaurants and taverns that were severely impacted by the covet pandemic you can also see other industries that were severely impacted gyms and fitness centers indoor recreation venues event spaces concerts and performing art venues eligibility factors and key priorities eligible businesses include for-profit and non-profit entities with 20 million dollars or less and annual revenue in 2019 and experience losses due to covet 19. the grant size will be calculated based on revenue losses and expenses over the last two months and will range from five thousand dollars to a hundred and fifty thousand dollars so the grant again the grant sizes are from five thousand dollars to a hundred and fifty thousand dollars given out depending upon the amount of losses the amount of uh expenses and if a business is in a severely uh disproportionately impacted area priority will be given to applicants that did not receive the federal ppp or other forms of aid from the cares act such as the small business administration economic disaster impact loan priority will be given to again businesses located in the dias there is a map on our website and also the link on the slide deck that you can put your address in to see if you are in a dia area also priority will be given to businesses that are in more severe regional mitigation measures due to covet so for instance right now businesses in the rockford uh galena freeport areas are a little bit higher priority than the quad city area right now but that can change depending upon the positive test cases of covet and also priority will be given to businesses that have less than 5 million in annual revenue so this is truly a small business loan grant heavenly impact in industries 60 million will be set aside for businesses in a set of heavily distressed industries businesses in these industries have been closed or operating at very diminished capacity since mid-march and are likely to continue to do so until phase five so event spaces music venues indoor recreation movie theaters and charter and shuttle bus services would be considered heavily distressed industries for the remaining 140 million in funds in this round any business or non-profit with under 20 million in annual revenue that experienced losses due to covin may apply for the remaining funds the following industries that are experiencing ongoing dramatic losses industry wide due to the economic fallout from coving will be prioritized so independently owned retail restaurants and bars fitness centers tourism related industries and support services for arts and art events require documents later on we'll we'll kind of touch on the the application itself but these are documents that you're going to need to upload with your application so your 2019 tax return if you don't have a 2019 tax return and you're still running on an extension your 2018 tax return will work um we'll show you in the uh later slide how to note that in your application that you're still running on an x tax extension uh july 2019 bank statement august 2019 bank statement july 2020 bank statement august 2020 bank statement signed w9 form and the business owner's id some application tips we tell people fill it out completely and carefully rather than quickly uh almost between 70 and 80 percent of the funds for the big program are still available and there's no deadline the deadline is when the funds run out so really doesn't make any sense to hurry through the application just to get it in before somebody else does and leave yourself open to errors so we encourage people take the time to ensure your application is complete and accurate in advance of submitting ask for assistance from the help desk there's a link on the slide deck and on our website to do so you can send oxyone a question and they will uh they should get back to you between 24 and 48 hours with an answer is also a good idea to save your answers in a separate document in case you have to leave uh filling out the application and come back at a later point double check your answers prior to submitting don't choose a heavily impacted industry if you're not a heavily impacted industry there's a list on the website again do not choose a dia distressed area zip code if your business is not in that zip code or if your business is near that zip code this will delay your application and negatively impact your consideration for grant also really important do not use the automatic filling feature on your browser that a lot of people have it may populate incorrect information into your application i had a henry county business they had several different businesses and they were all next door to each other and they used the auto feature and they inadvertently filled in it filled in the wrong information and their application was rejected uh based on that so be very again you can't be careful enough in filling out the application and as you'll see the application isn't that bad remember this is not you're not filling out an application for a loan or a tax credit so it's not as onerous as that is and it should be done in a positive manner because this is a grant these are monies you won't have to pay back since i'm here locally um you'll see my cell phone number on the last slide if you have any questions please call me leave me a message and i will get back to you fairly shortly and if i don't know the answer i will point you in the right direction uh for an answer there are also resources listed on our website that you can contact for assistance if you choose to do so but like i said i'm here locally and i would be more than happy to help you and also the quad city chamber has been following the big grant program before it was even announced and they know quite a bit about it as well so we are here to help and we are local and please reach out to us big round two started uh accepting applications on september 17th again there is no end date for this these will be awarded and funded on a rolling basis so again round two some awards were given out on monday the recipients received an email or if they used an accountant their accountants received an email saying you were awarded a big round two grant uh stay tuned for when uh the funds will be dispersed to your bank um again you can submit a question to accion our partners they're assisting us or basically mainly uh processing the applications and contacting folks and they will get back to you uh from 24 to 48 hours if you go to the dco website this is uh you'll see on the main page about halfway down you'll see the big business interruption grants program page click on that um you could say you can submit questions via the help desk in english or spanish and it'll there'll be a link for the application the application is done exclusively online uh this is not something you print out fill in and then mail in there are resources here uh if you have questions uh the application is there in english and in spanish again for technical assistance please give me a call or call the chamber and we will get you an answer this is a first glance of the beginning of the application there's instructions there's a definition of the eligibility criteria and as we go through the beginning of the application you'll see in business owner name business owner email please make sure your email that you enter is correct it'll ask you to confirm it and a phone number that you can be reached at address is your business for-profit or non-profit anything with a red asterisk obviously has to be filled out there's some uh questions uh industry what's your industry there's a drop down box that you can click on and put your business in what's the capacity of your indoor space now we're getting into what's your business gross operating revenue did you violate the 2019 business tax return yes or no again have you received any of the following emergency aid so if you have received ppp or the economic injury disaster loan um or a big in round one you will be moved down on the priority list but that doesn't make pre exclude you from applying if you received a ppp or eidl or a big round one you're still eligible to apply this will show you which required documents you need so the application itself is very user friendly it will tell you again along with the what's uh with the initial web page what needs to be submitted uploaded with your application some more slides on on the application itself it doesn't look that bad okay so and then you you sign it and you certify that everything is accurate to the best of your knowledge and true and then you submit the form and you should be getting an email from oxyone uh that you have submitted your form and then here's my contact information agai that's my office cell phone number for anybody that has any questions uh or need some assistance in filling this out i'll be more than happy to help and i wish everybody the best of luck i encourage you to apply and i want to thank the quad cities chamber again very much uh for partnering with us on this and being such a great resource for our quad city businesses and our community as a whole great adrian thanks so much that was very detailed and there's lots of great information in that presentation so i appreciate you going through everything again remind people if you have questions pop them in the chat box or the question box um i just have a couple of questions um while we wait and see if anyone else has any questions um adrian can you tell us again how much money is still available as grants approximately 170 million is still available that's crazy 175 170 million dollars um and the quad cities could get a good portion of that if we all apply okay um how long are businesses you know once you apply how long are you are you seeing the turnaround time to be notified if you get it or not uh four to six weeks four to six weeks okay um and then once you're notified what is the time to get money into your account with uh between one and two weeks one and two weeks okay so within a two month period you could have money in your account from this program correct okay well go ahead and if you have any questions pop them in there i'm gonna start wrapping it up for us but we can always run back to questions if we have any um again i want to thank adrian uh for his time this is great information for our businesses um i do want to let you know of two upcoming virtual events first is amp up an inside look at three thriving qc businesses this will be on wednesday november 18th at 8 30 in the morning you're to hear from 3m twin state technical services and oh so sweet by tiffany second event is bar and restaurant owners round table this will be on friday november 20th at nine a.m facilitated by tom trone of score quad cities three business owners and bar owners i'm sorry three restaurant bar owners will be sharing their plans to combat operational challenges this fall and winter this includes a great q a opportunity if you're interested in these opportunities you can register for them on our website quad citieschamber.com and as a reminder a recording of this program will be posted on our website later today so looks like we've covered everybody's questions i appreciate everyone joining us today thank you very much and have a great day thank you thanks