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Village of Schaumburg

noreply@schaumburg.com

101 Schaumburg Ct., Schaumburg, IL, 60193, US

Small Business Grant Program

REVISED 9-14-2020

 

In response to the Coronavirus (COVID-19) pandemic and its effect on small businesses, the Village of Schaumburg has created a small business grant program. The objective of this grant is to help businesses retain employees at pre-COVID-19 levels. The village is offering small business owners in Schaumburg a 50% match of operating expenses for two months up to $10,000 total for each business to help retain employees. The village has allocated $100,000 to this program and is now basing it on need. The deadline to submit an application and supporting documents is October 15, 2020. Every effort will be made to make award decisions by November 1, 2020. If funds remain after initial awards are determined, additional submissions will be accepted on a rolling basis until grant funds are expended.

 

AMOUNT OF GRANT: The Village will match 50% of eligible operating expenses for two months up to $10,000.

ELIGIBILITY

BUSINESSES MUST:

  • Be located within the Village of Schaumburg
  • Demonstrate that the COVID-19 outbreak caused a decrease in revenue
  • Employ between 1-5 employees (or full time equivalent) not including owner/s and contract employees in total across all locations
  • Have less than $1.5 million in gross annual revenue
  • Have been in operation for at least 1 year
  • Have no outstanding tax liens or legal judgements
  • Commit to maintaining pre-COVID-19 employment levels for a minimum of 6 months upon receipt of grant. If commitment is not met, grant must be repaid.

 

INELIGIBLE APPLICANTS:

  • Medical and recreational cannabis establishments
  • Drug paraphernalia/head shops
  • Adult entertainment
  • Video gaming establishments
  • Non Profits
  • Home based businesses

 

REQUIRED SUBMISSIONS

  • Completed application
  • Valid identification
  • Duplication of Benefits Review form
  • Full Time Equivalent Payroll Statement
  • Revenue and Expense Statement 
  • 2019 Business Tax Return
  • Financial Statements demonstrating decrease in revenue
  • Completed W-9 IRS Form

Please note that once you begin the application you cannot save it and come back later. Therefore, you should have all your documents ready for uploading prior to beginning application. For Village required documents download each document to your computer, fill them out, then upload them in the designated area. These documents can be found here: https://www.villageofschaumburg.com/business/small-business-resources​

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    Upload Duplication of Benefits Review form found on website

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    Upload Full Time Equivalent Payroll Statement found on website

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    Upload Financial Statements

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    Upload Revenue and Expense Statement found on website

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    Upload Completed W-9 IRS form

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    Upload 2019 Business Tax Return

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