Searching for small business grants in Illinois or Chicago small business funding? Few owners have time to track down every grant, tax credit, or incentive program on offer. SBAC keeps this list of Illinois small business grants and incentives current so you can search, filter, and apply — not scroll for an hour.
Last updated by the SBAC team. Bookmark this page and check back often.
$10,000 small business grants awarded to eligible U.S. businesses throughout 2026. Unlock your application by completing two free courses on the Digital Ready platform — 10 small businesses are selected for funding every month.
Learn moreReimbursement grants up to $250,000 to subsidize employee training and upskilling costs for incumbent workers and new hires at qualified Chicago small businesses. Funded through Tax Increment Financing (TIF) and the Housing and Economic Development Bond; grants do not need to be repaid.
Learn more$15 million in Illinois state matching funds to help Illinois-based small businesses and organizations meet cost-share requirements for competitive federal grants, strengthening the competitiveness of their applications.
Learn more$4,250 grant for women and minority-owned small businesses nationwide, from aspiring entrepreneurs to established owners. Free to apply and one of the fastest small business grant application processes available.
Learn more52 grants of $5,000 each for Illinois small businesses affected by the actions of immigration authorities, from the Illinois Hispanic Chamber of Commerce Foundation with support from the Searle Funds at The Chicago Community Trust. Distributed in phases across Chicagoland communities.
Learn moreFive $10,000 equity-free grants for women-led beauty and wellness consumer brands, plus mentorship, community connections, and visibility opportunities from Makers Mindset and The Equity Studio.
Learn moreNon-dilutive federal funding that bridges the gap between Phase II research and commercialization for small businesses with previously funded NIH SBIR or STTR Phase II projects.
Learn moreNon-dilutive federal funding for U.S. small businesses partnering with nonprofit research institutions to bring scientific innovations to market, from feasibility studies through late-stage R&D.
Learn moreNon-dilutive federal funding for U.S. small businesses developing scientific innovations for the marketplace, supporting projects from early feasibility studies through later-stage research and development.
Learn moreFederal funding to help small businesses move NIH-funded SBIR or STTR projects from late-stage development toward commercialization, covering clinical studies, manufacturing scale-up, and regulatory support.
Learn more$5,000 quarterly grants for U.S.-based women founders growing established, revenue-generating businesses of at least one year with $100,000+ in annual revenue.
Learn more$2,500 in unrestricted cash plus $2,500 in Shophand technical support and services to help owners solve technology or operations challenges. Awarded three times per year.
Learn moreFunding for property repairs and improvements within Chicago TIF districts. Priority for businesses that keep active, well-kept properties.
Learn more$500–$2,000 grants for Black-owned small businesses across the U.S.
Learn more$1,000 monthly awards for under-resourced women entrepreneurs, especially women of color. Must be 51%+ women-owned with under $1M revenue. $15 application fee.
Learn moreMultiple recurring monthly grants supporting women entrepreneurs at different growth stages. New opportunities released regularly.
Learn moreFree Cook County program offering on-site environmental assessments; eligible businesses may then apply for grant funding to reduce pollution.
Learn moreFunding for municipalities to attract or expand private businesses that create or retain jobs, prioritizing low-to-moderate income workers.
Learn more50% reimbursement for employers investing in workforce training, whether through approved providers or internal programs.
Learn moreFederal contracting access plus management, technical, and financial support for socially and economically disadvantaged business owners.
Learn moreGrants and cooperative agreements for organizations advancing growth and competitiveness of minority business enterprises.
Learn moreFree lead service line replacement by licensed plumbers for child care providers in suburban Cook County, with support meeting state testing requirements.
Learn moreHybrid loans up to $100,000 for food entrepreneurs expanding access to healthy foods in low-to-moderate income neighborhoods.
Learn moreEmergency grants of $250–$3,000 for Illinois food and beverage workers facing unexpected hardship, via the Illinois Restaurant Association Educational Foundation.
Learn more$1,000 micro-grants awarded monthly by independent chapters worldwide to support innovative, impactful projects.
Learn moreReimbursement grant up to $10,000 in matching funds from the Village of Gurnee for eligible capital improvement projects.
Learn moreMonthly funding plus mentorship and expert feedback for small business owners nationwide looking to strengthen operations.
Learn moreFunding for business development projects, technical assistance, training, and infrastructure improvements in rural communities with populations under 50,000. Awarded to eligible public entities and nonprofits supporting small and emerging rural businesses.
Learn moreGrant package combining a $5,000 award with marketing services, technology upgrades, business coaching, and educational resources to help small businesses grow.
Learn moreOne universal application considers business owners for multiple future grant opportunities, plus access to crowdfunding tools, coaching, and business resources.
Learn moreGrants for women entrepreneurs with established consumer packaged goods businesses, covering expenses like digital marketing, business tools, insurance, and sustainability initiatives.
Learn moreFunding to help small businesses take their next step in growth — a new location, product, service, or improvement — plus exposure to Honeycomb Credit’s network and capital-raising resources.
Learn moreSupports businesses in food production, processing, storage, and distribution by funding equipment, facilities, and infrastructure that strengthen local food supply chains across Illinois.
Learn moreFunding for organizations that expand entrepreneurial support services and strengthen local small business ecosystems, improving access to capital, resources, and technical assistance for entrepreneurs.
Learn moreHelps small businesses partner with Illinois universities and research institutions to develop new products and technologies. Vouchers cover up to 75% of the research engagement cost, up to $75,000.
Learn moreFree assistance with certifications, registrations, bid matching, and proposal development to help small businesses compete for local, state, and federal government contracts.
Learn more$250–$5,000 cash grants to local organizations from nearby Walmart and Sam’s Club facilities. Requires a Spark Good account verified by Deed. Primarily for 501(c)(3)s, public entities, and schools.
Learn moreUp to $4,000 toward training, marketing, advertising, hiring, facility expansion, and other targeted business needs. Must be a NASE member for 90 days before becoming eligible.
Learn more$1,000 in funding for entrepreneurs, presented by Deja Vu Parker of WBLS and HerSuiteSpot (the same organizer as the HerRise MicroGrant). Applications are reviewed monthly.
Learn moreFast-turnaround $1,000 grants announced a few days in advance, generally twice a week with Tuesday and Friday livestream deadlines. Applicants must participate in Skip’s YouTube livestream to claim.
Learn moreIn-kind support: complimentary TV and streaming advertising, an original commercial, mentoring, and educational resources for locally owned small businesses that haven’t advertised with Spectrum Reach in the past 13 months.
Learn moreDisaster preparedness planning paired with immediate emergency funding when a qualifying disaster occurs, through a partnership between the U.S. Chamber of Commerce Foundation and FedEx. Complete a four-step readiness process to become eligible.
Learn moreFederal funds distributed through state entities to help small businesses export — covering foreign trade missions and trade shows, entry into foreign markets, website development, and international marketing materials. Eligibility criteria are set by each participating state.
Learn moreFederal tax credit for employers hiring veterans and individuals from target groups facing employment barriers. About $1B claimed annually. NOTE: As of 1/1/2026, this credit is not currently authorized by Congress — confirm status before promoting.
Learn moreNow 15% of qualified wages (up from 5%), max credit $7,500 — supporting workforce transition and on-the-job training.
Learn moreUp to $3,500 per apprentice against Illinois income taxes, plus $1,500 more if the apprentice or employer is in an underserved area. Not valid for tax years beginning on or after 1/1/2027.
Learn more25% state tax credit on investments (up to $2M) into certified Qualified New Business Ventures. Not valid for tax years ending after 12/31/2026 — check for renewal.
Learn moreAnnual corporate tax credits for businesses supporting job creation and capital investment in Illinois. 2026 update: certified new/retained employees must work in-person at least 14 hrs/week at the project site; fully remote baseline employees must be within commuting distance or live in Illinois. Applies to all DCEO tax incentive programs.
Learn moreTemporary tax deferrals for capital directed into designated Illinois areas needing economic revitalization. New zone designations take effect 1/1/2027.
Learn moreNo-cost and low-cost recruiting, training, and retention strategies plus hiring incentives for employing individuals with disabilities.
Learn more30% tax credit on qualified production expenses for film, TV, and advertising projects shot in Illinois. As of 2026, both production companies and loan-out companies must report withholding income tax paid or paid on their behalf.
Learn more$220M initiative offering participation loans and loan guarantees to reduce lender risk and improve borrowing terms, prioritizing historically marginalized groups.
Learn more$114M equity capital program expanding access to capital for capital-disadvantaged and socially/economically disadvantaged business owners.
Learn moreAddresses inadequate access to fresh foods in urban and rural food deserts across Illinois.
Learn moreSSBCI-supported financing through the Illinois Finance Authority for startup and expansion of environmentally-focused businesses.
Learn moreFederal tax credit equal to 39% of investment, claimed over 7 years, for equity investments in low-income communities via CDEs.
Learn moreState matching funds after a federal SBIR/STTR award — up to $75,000 for Phase I and $250,000 for Phase II.
Learn moreTraining, mentorship, and technical assistance for underserved entrepreneurs through community-based organizations statewide.
Learn moreTax credits from 3%–7% of qualified investments for manufacturers upgrading technology and facilities.
Learn moreSales and utility tax exemptions plus job-creation tax credits for investment in economically challenged areas.
Learn moreReimburses Illinois manufacturers up to 50% of eligible workforce training costs.
Learn moreRebates and instant discounts across lighting, HVAC, refrigeration, commercial kitchen equipment, variable speed drives, data centers, and new construction. Free facility assessments are the entry point. Starting in 2026, incentive payments totaling $2,000+ in a calendar year may trigger a 1099.
Learn moreCash rebates on qualifying high-efficiency equipment, free professionally installed energy-saving products via an Energy Advisor assessment, and custom incentives for projects outside standard rebate categories. Available to Nicor Gas business customers in northern Illinois.
Learn moreFederal tax credit for the ordinary and necessary costs of starting a SEP, SIMPLE IRA, or qualified plan such as a 401(k). Employers with 50 or fewer employees can claim 100% of eligible startup costs (51-100 employees: 50%), up to $5,000/year for the first 3 years. Additional credits may be available for employer contributions and auto-enrollment.
Learn moreWe are updating this list. Check back often, or email us and we will help you find funding.
Email UsGrants are funds you do not repay. Programs usually set rules for how you spend the money.
Tax credits reduce the taxes your business owes. They often reward activities such as hiring or investing locally.
Incentives are programs that lower your costs or support growth, such as rebates, training support, or local business programs.
We update this page regularly, but new funding opens up constantly. Reach out and our team will help point you in the right direction.
