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Grants for small Businesses (1640 × 300 px)

It's tough to run a small business. We know that funding is always top of mind at all times.

In an effort to keep our small business owners informed of possible grants as they become available, we will list some as they become available and the criteria for applying.  We encourage you to take advantage of those that apply to your business. We also encourage you to continue to look for these opportunities on your own as this list is not exhaustive.

The Chicago Neighborhood Opportunity Fund

In 2016, the City of Chicago revised the Zoning Code to leverage funds generated by new development in and around the Loop to catalyze investment in Chicago’s West, Southwest and South Sides. The Neighborhood Opportunity Fund uses these funds to support commercial corridors in Chicago’s underserved neighborhoods. Business and property owners may apply for grant funding to pay for the construction or rehabilitation of real estate and projects that support new or expanding businesses or cultural assets.

Learn more about the Neighborhood Opportunity Fund and Application HERE.

The Back to Business (B2B) Grant

The Back to Business (B2B) grant program provides recovery grants for businesses in the hardest-hit industries.  Through the state’s B2B and Business Interruption Grant (BIG) Programs, DCEO has provided more than $535 million to more than 15,000 businesses since the start of the pandemic.

Eligible restaurants, hotels and creative arts businesses are eligible to apply for $175 million in available grant funding as part of our efforts to support ongoing recovery in hard-hit industries. All applicants will receive a grant as long as they meet eligibility requirements, submit proper documentation and attestations required by the program.

The program design for B2B Restaurants, B2B Hotels, and B2B Arts, respectively, are based on legislation which established the Restaurant Employment and Stabilization Grant Program (20 ILCS 605/605-1100), Hotel Jobs Recovery Grant Program (20 ILCS 605/605-1095), and the Illinois Creative Recovery Grant program (30 ILCS 709/40).

Applications will be open between April 5 and May 10, 2023. DCEO encourages applicants to familiarize themselves with program eligibility requirements and reach out to local community navigators with any questions.

Learn more and apply HERE.

CHICAGO RECOVERY GRANT APPLICATION for COMMUNITY DEVELOPMENT 

The Small Business Improvement Fund (SBIF) provides grant funding for permanent building improvements and repairs across the city.

Offered by the Department of Planning and Development (DPD) to tenants and owners of industrial and commercial properties, SBIF grants are funded by Tax Increment Financing (TIF) revenues in designated TIF districts citywide.

Program participants can receive grants to cover between 30 percent and 90 percent of the cost of remodeling work, with a maximum grant of $150,000 for commercial properties and $250,000 for industrial properties. The grant, which is administered by SomerCor on the City’s behalf, does not have to be repaid.

Learn more about Chicago SBIF and check for roll out dates HERE.

CLOSED GRANTS:

Chicago Recovery Grant Application for Community Development

The City of Chicago and Mayor Lori E. Lightfoot are committed to strengthening local business corridors and enhancing neighborhood vitality.

The Chicago Recovery Plan provides additional opportunities for the City to invest in catalytic local development, expanding upon DPD’s existing investments and support.

DPD is now accepting applications for grant funding to support local commercial, mixed-use, and light manufacturing development. All are welcome to apply. City staff will prioritize projects in areas of Chicago where there is a history of disinvestment or limited private investment. The closest deadline to apply was February 22, 2023.

Fast Break for Small Business

LegalZoom, the NBA, WNBA, and NBA G League are committed to encouraging entrepreneurship by supporting and investing in black small business owners. Tipping off at the start of Black History Month, the third of six grant cycles will open in this multiyear program.  The deadline to complete the application was February 17, 2023.

The Founders First Job Creators Quest Grant

One of many ways small businesses can apply for the capital needed to grow. As part of our mission to provide continued education to founders, all grant recipients also receive a scholarship to one of our acclaimed accelerator programs. Grant money can be used as growth capital to hire or rehire premium wage jobs. Cash infusion can be used to purchase, fix or enhance equipment necessary to help manage growth challenges and scale for the future.  The deadline to complete the application was February 8, 2023.

Archives

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By emma@sbacil.org | March 30, 2023

The Back to Business (B2B) Grant: The Small Business Advocacy Council fights for legislation that will support the small business community and neighborhood business districts.  We also understand the importance of providing information about programs that can benefit entrepreneurs and small businesses.  Illinois policymakers have launched another round of Back to Business grants (B2B) that…

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By patti@sbacil.org | March 28, 2023

It’s tough to run a small business. We know that funding is always top of mind at all times. In an effort to keep our small business owners informed of possible grants as they become available, we will list some as they become available and the criteria for applying.  We encourage you to take advantage…

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