Small Business Relief Funds Still Available In Crystal Lake

CRYSTAL LAKE, IL — The City of Crystal Lake still has some $150,000 in small business relief funds waiting to be dolled out, it announced on social media on Thursday. The deadline to apply for a grant has been extended to Tuesday, Jan. 26.

The money is intended to go to qualifying businesses in certain sectors including retail stores, restaurants, salons, entertainment establishments and fitness businesses.

To qualify, a business must have experienced a disruption caused by the COVID-19 pandemic, according to the city. One-time grants range from $5,000 to $15,000.

The city said it will accept applications from tax-generating businesses with less than $4 million in sales. The business must also generate walk-in traffic and demonstrate a need for a grant based on expected revenue loss.

Franchises, home-based businesses, professional or medical businesses, and business with more than three business units do not qualify.

According to the city, businesses that experienced less than a 50 percent loss could qualify for up to $5,000. Businesses that experienced between a 50 and 75 percent loss could receive up to $10,000, and businesses that experienced more than a 75 percent loss could receive up to $15,000.

Full parameters for the grant program can be seen on the city's website, along with an application form and W9 document.