PEORIA, Ill. — The City of Peoria will receive $1.4 million in CARES Act grant money to help local businesses impacted by the COVID-19 pandemic.
The U.S. Department of Commerce has announced a total $8.2 million in CARES Act Recovery Assistance grants for Illinois communities.
The $1.4 million grant to Peoria will allow the city to administer Revolving Loan Funds to small businesses and entrepreneurs, according to the DOC.
The grants for Illinois are being administered by the DOC’s Economic Development Administration.
“As we continue to grapple with the economic consequences of the COVID-19 pandemic, we must ensure that small businesses are not left behind,” said Senator Dick Durbin.
“This federal funding will serve as a lifeline for many small businesses throughout Illinois in rural and urban communities alike. I’ll continue advocating for federal resources to help families and small businesses stay afloat during this unprecedented crisis,” said Durbin.
