JOLIET – Over 50 businesses across Will and Kendall Counties were awarded a combined $1.8 million in funding from the Back to Business program thanks to advocacy and support from State Senator Meg Loughran Cappel.

“Small businesses bring so much life to our community and programs like Back to Business have been vital in helping them get back on their feet,” said Loughran Cappel (D-Shorewood). “I’m pleased to see so many businesses take advantage of this wonderful opportunity.”

A total of $1.8 million was awarded to 56 businesses in the 49th District. The B2B grants are awarded by the Illinois Department of Commerce and Economic Opportunity using funds allocated to them by the American Rescue Plan through last year’s state budget.

DCEO has provided $250 million in B2B grants – thanks to strong support from Senator Loughran Cappel – to small businesses throughout the state, with an emphasis on hard hit sectors, such as hotels, restaurants, bars, barbershops and salons, and disproportionately impacted areas.

“Our small businesses have overcome so many obstacles these past two years,” said Loughran Cappel. “We should all offer our support by shopping locally whenever possible.”
 
With strong leadership from Loughran Cappel, the state has seen three Illinois’ General Obligation bond rating upgrades in the last year from two of the nation’s primary credit rating agencies. The latest upgrade comes from S&P Global Ratings, as a result of the state paying down its bill backlog from over $16 billion to less than $3 billion in a course of just a few years.

Due to fiscal responsibility, the state saw an increase in funds available to assist small businesses.

Visit the DCEO website for more information on the B2B program.