economic development – CU-CitizenAccess.org

Source: U.S. Farm Credit Administration

Out of town business receives millions in PPP relief money from local bank

Post author:Danielle Williams / For CU-CitizenAccess
Post published:February 10, 2022
Post category:Business CU-Covid19 Public Funds

In April 2020, the federal Small Business Administration (SBA) began to give out loans via the Paycheck Protection Program (PPP). By the end of the…

Champaign financial impact from pandemic offset by taxes and repurposing, records show top costs remained mostly same

Post author:Owen Henderson / For CU-CitizenAccess
Post published:July 29, 2021
Post category:Government Public Funds

Champaign’s cash outflow reports show that business assistance funding has dramatically increased during the pandemic, aided by a fund program that wasn’t designed to…

Read more about the article Small Business Incentive Program relief grants provides ‘much needed’ financial assistance

Darrell Hoemann

Habitat for Humanity, Champaign Executive Director Chad Hoffmanon in the Restore in Champaign on Friday, December 11, 2020. Photo by Darrell Hoemann/C-U Citizen Access

Small Business Incentive Program relief grants provides ‘much needed’ financial assistance

Post author:Chrisoula Motamed / For CU-CitizenAccess
Post published:December 18, 2020
Post category:Business CU-Covid19 Public Funds

Forty-eight out of approximately 90 small businesses in Champaign received a total of $520,000 in grants from the Small Business Incentive Program COVID Relief Grants. The money for these grants came from the Federal CARES Act fund. The city council amended the pre-existing Small Business Incentive Program so that the program could be used to distribute this new funding in an efficient and productive way.