Running a business is challenging. Small business owners often lack the time to navigate grants, tax credits, and other funding opportunities. We are excited to help! While we cannot cover everything, we will do our best to keep you informed about the funding opportunities that may be available for your business.
Grants:
The TIF District Grant Program offers funding to small businesses for property repairs and improvements within designated Tax Increment Financing (TIF) districts. Grants support physical upgrades that enhance commercial spaces and contribute to neighborhood revitalization. Eligibility criteria and application periods vary by district. Priority is given to businesses demonstrating community impact and a commitment to maintaining active, well-kept properties that drive local economic growth.
Learn more about the Small Business Improvement Fund HERE
The Wish Local Empowerment Program provides grants of $500 to $2,000 to Black-owned small businesses across the United States. Funding supports diverse business initiatives that promote growth, sustainability, and community engagement. Applications are accepted year-round with no set deadline. Priority is given to businesses that demonstrate local impact and present clear, actionable plans for development and expansion.
Learn more about the Wish Local Empowerment Program Here
The HerRise MicroGrant Program awards $1,000 monthly grants to under-resourced women entrepreneurs, with special focus on women of color. Designed to help small businesses overcome financial barriers, the program supports sustainable growth and development. Eligible businesses must be at least 51% women-owned, legally registered in the United States, and have less than $1 million in annual revenue. A $15 application fee applies for each submission.
Learn more about the HerRise MicroGrant eligibility and application process Here
The Women’sNet Grant Program offers multiple monthly grant opportunities to support women entrepreneurs at different stages of business growth. Awards provide flexible funding that can be used for operations, expansion, or other essential business needs. Applications are accepted on a recurring basis throughout the year, with new opportunities released regularly. Eligibility varies by grant, but generally requires women-owned businesses operating in the United States.
Discover current Women’sNet grant opportunities and deadlines Here
The Cook County Department of Environment and Sustainability (DES) has launched the Businesses Reducing Impact on the Environment (BRITE) program. This free initiative aids businesses in lessening their environmental impact and promoting a healthier environment for their employees, customers, and community through on-site assessments focused on pollution reduction. Upon completing the assessment, eligible businesses may apply for grant funding.
Learn more about the BRITE program Here
The Community Development Block Grant for Economic Development provides funding to municipalities aiming to attract or expand private businesses that create or retain jobs. Priority is given to projects that benefit low-to-moderate income workers. Grants may also support public infrastructure improvements that indirectly foster private sector growth. Funding is available year-round on a rolling basis, subject to fund availability. Applicants must be eligible local governments and meet all program requirements to qualify.
Learn more about the Community Development Block Grant Economic Development Program Here
The Chicagoland Chamber Employer Training Investment Program (ETIP) offers a 50% reimbursement to employers investing in workforce training. Whether partnering with approved training providers, using existing trainers, or conducting internal training, businesses can receive financial support to enhance employee skills and drive economic recovery. Eligible employers must demonstrate a commitment to workforce development and meet program requirements.
Learn more about ETIP Here
The Hivers & Strivers Pitch Us Program provides funding opportunities exclusively for military veterans with highly scalable, innovative business ideas. The program offers investment capital to help veteran entrepreneurs transform their concepts into impactful ventures. Applicants must be U.S. military veterans.
Learn more about the Pitch Us Grant Here
The 8(a) Business Development Program offers socially and economically disadvantaged small business owners access to federal contracting opportunities, along with specialized training and support. Participants receive management, technical, financial, and procurement assistance to enhance long-term competitiveness. Eligible applicants include businesses owned by socially disadvantaged individuals, Alaska Native corporations, Indian tribes, Community Development Corporations, and Native Hawaiian organizations. The program emphasizes sustainable business growth through targeted development resources.
Learn more about the 8(a) Business Development program Here
The MBDA Growth Grant supports third-party organizations working to advance the growth and global competitiveness of minority business enterprises (MBEs). Funding is provided through grants and cooperative agreements to programs that align with the Agency’s mission. Priority is given to organizations offering services that directly assist MBEs in areas such as access to capital, contracting opportunities, and business development. Applicants must demonstrate capacity to deliver measurable outcomes and must meet federal eligibility requirements.
Learn more about the MBDA program Here
The Warrior Rising Vetrepreneur Program empowers U.S. military veterans to become successful entrepreneurs through mentorship, training, and startup funding. Founded in 2015, the nonprofit supports “Vetrepreneurs” with access to remote learning, expert guidance, and grant opportunities. Priority is given to veterans with a clear business plan and commitment to long-term growth. The program aims to build a strong community of veteran-owned businesses, with a bold goal of creating 100 million-dollar veteran-led companies.
Learn more about the Warrior Rising program Here
The Breva Thrive Grant awards $5,000 to small businesses demonstrating community impact. Priority is given to businesses operating for at least one year, preferably with $35,000 or more in annual revenue. Special consideration is given to women- and minority-owned businesses serving underrepresented communities. Applicants must be legally registered in the United States and show measurable positive impact through job creation, innovation, or improved access to services.
Review complete Breva Thrive Grant guidelines Here
LeadCare Cook County is a free program designed to help child care providers in suburban Cook County create safer, healthier learning environments. Participants receive no cost lead service line replacement performed by licensed plumbers, along with support to meet state lead testing and mitigation requirements. LeadCare Cook County is open to both licensed and licensed-exempt child care facilities in suburban Cook County, with no financial commitment required to participate.
Healthy Living, Healthy Financing (HLHF) is a community focused initiative designed to expand access to healthy foods and support wellness in low to moderate income neighborhoods. Through the program, GAC provides innovative financing solutions that deliver the right capital to local growers, food purchasers, and other organizations, strengthening the local food ecosystem. GAC offers hybrid loans of up to $100,000 to help food entrepreneurs meet both short and long-term business needs.
Learn more about Healthy Living, Healthy Financing Here
The Restaurant Employee Relief Fund is a financial assistance program created by the Illinois Restaurant Association Educational Foundation (IRAEF) to support Illinois food and beverage workers experiencing unexpected hardship. Eligible workers can apply for emergency support. The program provides grants ranging from $250 to $3,000 to help cover essential living expenses during life altering situations.
The Awesome Foundation is a global network that provides $1,000 micro-grants to support innovative and impactful projects. Each chapter operates independently, usually awarding grants monthly. For small business owners and entrepreneurs, these grants offer a valuable boost to help launch new ideas or bring creative ventures to life. The foundation empowers individuals to turn their visions into reality by providing the resources needed to get their projects started.
Learn more about the Awesome Foundation Grant Here
America’s Seed Fund, a program within the National Science Foundation’s Directorate for Technology, Innovation, and Partnerships, is dedicated to turning scientific and engineering breakthroughs into products and services that have both commercial and societal impact. Each year, the program awards over $200 million in research and development (R&D) funding to approximately 400 startups across the U.S., helping them bring innovative ideas closer to market success.
In 2016, the City of Chicago amended the Zoning Code to harness funds generated by new developments around the Loop, aiming to spur investment in Chicago’s West, Southwest, and South Sides. The Neighborhood Opportunity Fund (NOF) channels these funds to bolster commercial corridors in underserved neighborhoods. Business and property owners can seek grant funding for real estate construction or rehabilitation and projects that boost new or expanding businesses and cultural assets.
Learn more about NOF Here
The Manufacturing Reinvented grant is a fully-funded opportunity tailored for Cook County manufacturers to enhance their production and sales, develop leadership, and train their workforce. It offers reimbursement for projects that focus on operational improvements, leadership and strategy development, sales and marketing growth, and workforce training.
Learn more about the Cook County Illinois Manufacturing Reinvented Grant Here
The Small Business Capital and Infrastructure Grant Program is administered by DCEO’s Office of Economic Equity and Empowerment (OE3). In November 2025, the Governor announced nearly $10 million in funding for 47 small businesses through this program. Grants range from $10,000 to $245,000 and can be used for infrastructure improvements, acquisition of essential equipment, property purchases, site improvements, and building renovations.
Learn more about the Small Business Capital and Infrastructure Grant Program Here
Incentives:
The Work Opportunity Tax Credit (WOTC) is a federal tax credit that helps employers who hire and retain veterans and individuals from specific target groups facing significant employment barriers. Each year, employers claim about $1 billion in WOTC tax credits.
Learn more about the Work Opportunity Tax Credit (WOTC) Here
The tax credit for businesses hiring formerly incarcerated individuals is now 15% of qualified wages (up from 5%). The maximum credit is now $7,500. These funds can be used for workforce transition and on-the-job training, supporting the Illinois economy by reducing re-incarceration costs and generating long-term revenue through taxes. The General Assembly has allocated $1,000,000 to this program, so small businesses should act now to supplement their workforce.
Learn more about the Tax Credit for Hiring Formerly Incarcerated Individuals Here
The Illinois Apprenticeship Tax Credit provides employers with a tax credit for qualified educational expenses related to apprentices. Employers can receive up to $3,500 per apprentice against Illinois income taxes, with an additional credit of up to $1,500 per apprentice if either the apprentice or the employer’s principal place of business is located in an underserved area. This credit incentivizes workforce development and skill-building within Illinois communities.
Learn more about the Illinois Apprenticeship Education Expense Tax Credit Progam Here
The Illinois Angel Investment Tax Credit Program incentivizes investments in innovative, early-stage Illinois companies by offering investors a state tax credit equal to 25% of their investment, up to $2 million. Eligible businesses must be certified as Qualified New Business Ventures (QNBVs). This program aims to provide critical working capital to fuel company growth and innovation within the state.
Learn more about the Illinois Angel Investment Tax Credit Program Here
Illinois’ EDGE program provides annual corporate tax credits to qualifying businesses which support job creation, and capital investment and improve the standard of living for all Illinois residents. Initial qualification criteria require certain job creation and project investment.
Learn more about the EDGE Program Here
The Opportunity Zones Investment Program incentivizes investors to direct capital into designated Illinois areas needing economic revitalization. This program offers temporary tax deferrals for investments made in Opportunity Zones—communities selected based on factors like poverty, unemployment, crime rates, and population challenges. The initiative aims to stimulate job creation and long-term investment in underserved neighborhoods.
Learn more about the Illinois Opportunity Zones Here
The Illinois Department of Rehabilitation Services (DRS) partners with businesses to provide sustainable, no-cost, and low-cost strategies for recruiting, training, and retaining a skilled workforce. Through this partnership, businesses gain access to qualified vocational rehabilitation professionals. Additionally, DRS helps businesses take advantage of financial incentives for hiring individuals with disabilities.
Learn more about DRS Employment Services Here
The Illinois Film Production Tax Credit supports film, TV, and advertising projects by offering a 30% tax credit on qualified production expenses. With diverse locations—from Chicago’s iconic skyline to historic neighborhoods and scenic landscapes—Illinois provides an ideal setting for creatives. This incentive helps attract and grow the state’s vibrant film industry.
Learn more about the Film Production Tax Credit Here
The Advantage Illinois is a $220 million initiative launched by the State of Illinois to support small businesses, prioritizing outreach to historically marginalized groups. Advantage Illinois offers two financing tools aimed at promoting job creation and retention: the Participation Loan Program (PLP), which reduces lender risk by purchasing a portion of term loans to offer more favorable rates to borrowers; and the Loan Guarantee Program (LGP), which provides partial principal repayment guarantees to lenders in case of loan default.
Learn more about Advantage Illinois Here
The Illinois Innovation Venture Fund (INVENT) is a $114 million equity capital program designed to expand access to capital for small businesses, with a focus on Capital Disadvantaged Business (CDB) owners, socially and economically disadvantaged individuals (SEDI), and industries aligned with Illinois’s broader economic development strategy. By prioritizing historically underserved entrepreneurs, the fund aims to promote sustainable business growth and drive inclusive economic development across the state.
Learn more about INVENT Here
The Illinois Grocery Initiative is intended to address inadequate access to fresh foods, especially in “food deserts.” Food deserts are defined as census tracts meeting specific criteria related to poverty and access to fresh foods. Food deserts may exist in both urban and rural areas.
Learn more about the Illinois Grocery Initiative Here
The Climate Bank Loan Program is administered by the Illinois Finance Authority (IFA) in partnership with local lenders. As Illinois’s officially designated “Climate Bank,” the IFA focuses exclusively on providing SSBCI-supported financing to support the startup and expansion of environmentally focused businesses. These ventures include those addressing the adverse impacts of climate change, with the goal of fostering sustainable development and advancing the state’s climate and clean energy objectives.
Learn more about the Climate Bank Finance Participation Program Here