Financial Resources Available

  • State
    • ARPA Economic Recovery Plan: $450M initial investment
      • $300 million for Back to Business Grants, with 40 percent of the funds going to communities that were disproportionately impacted by the pandemic
      • $10 million for Tourism promotion and Main Street festival grants
      • $50 million for Workforce Recovery efforts
      • $20 million for Community Navigators and targeted business support services
      • $25 million for the DCEO RISE program for local economic recovery planning and partnerships
      • $45 million in capital for commercial corridors and downtowns that have experienced disinvestment.
      • More details on grant opportunities and application announcements will be forthcoming. For updates, follow @illinoisdceo on social media.

       

    • Rebuild Distress Communities – Corridor Improvements RFP – For more information, please click HERE. Deadline June 7, 2021 at 5:00 p.m. 
    • Small Business Community Navigator Program – For more information, please click HERE. Open to nonprofits (501(c)3, 501(c)6, 501(c)19, etc.) and local units of government. Deadline June 9, 2021 at 5:00 p.m.
    • (Not for businesses but personal resource) 2021 Illinois Rental Payment Program – For more information, please click HERE. Deadline June 7, 2021 
    • Upcoming OMEE webinars, for a complete list please click HERE. For your convenience here is the upcoming Women’s Webinar Wednesday information: 
      • Women’s Webinar Wednesday – Your Business Your Mental Health
      • Wednesday, June 9, 2021, 11:00 am – 12:00 pm
      • Register for webinar
      • Every other Wednesday, the SBA and DCEO-OMEE partner to present resources for women-owned businesses. This session, we will be focusing on mental health for women-owned businesses. Guest speakers: Dr. Rosalyn Young and Professor Carmen Carothers.  Dr. Young will be speaking on Mental Resiliency for the business owner and Professor Carothers will be speaking on Psychological Contracts and their importance to businesses and solutions when they are breached.
  • Federal Government
    • Shuttered Venue Operators Grant (SVOG) – is a program to provide emergency grant assistance to eligible venues who were negatively impacted by the pandemic. You apply directly with the SBA.
      • Eligibility: Business was in operation as of February 29, 2020 and meets one of the following.
        • Live venue operators or promoters
        • Theatrical producers
        • Live performing arts organization operators
        • Relevant museum operators, zoos and aquariums who meet specific criteria
        • Motion picture theater operators
        • Talent representatives 
        • For more information, please click HERE. 
    • COVID-19 Economic Injury Disaster Loan (EIDL) – is a loan that has to be paid back. The loan interest for businesses is at 3.75% and for nonprofits it is 2.75% with terms of up to 30 years. You apply directly with the SBA. For more information, please click HERE. 
    • Who can help you apply?
      • Illinois Small Business Development Centers (SBDCs):  Illinois SBDCs provide one-on-one counseling, assistance with navigating best options for financial support programs, technical assistance with documentation requirements to prepare applications, and more.  Find your nearest SBDC HERE. 
      • DCEO Office of Regional Economic Development (Team RED) and the Office of Minority Economic Empowerment (OMEE):  These DCEO teams provide targeted referrals and counseling for economic opportunities to businesses and communities based on geography (Team RED) and in support of minority enterprises including racial/ethnic minorities, women, persons with disabilities, and veteran-owned businesses (OMEE). To connect with your area Team RED member, please click HERE.  To connect with OMEE, please click HERE.
  • Community/Private Resources
    • (Women owned businesses) I Fund Women, provides women owned businesses with a list of open grants, please click HERE. Deadline varies. 
    • (Latinx owned businesses) UPS & USHCC 2021 – Small Business Grant, UPS is partnering with the United States Hispanic Chamber of Commerce to provide a grant to Latinx owned businesses, please click HERE. This program accepts EIN or ITIN. Deadline Friday, June 11, 2021 at 10:59 p.m. 
    • (Chicago Hispanic owned businesses) PepsiCo Foundation Hispanic Business Program, Pepsi working with partners to provide grants to Hispanic-owned small food & beverage businesses, please click HERE. Deadline June 25, 2021. 
    • (Chicagoland Area Restaurants) DishRoulette Kitchen 2 Kitchen, grant for minority owned restaurants in the Chicagolnd area. For more information please click HERE. Open to undocumented business owners.  
    • (Quad Cities area nonprofits) Nonprofit Capacity Building Grants, grant for nonprofits to assist them increase their core systems and operations, please click HERE. Deadline September 1, 2021. 
    • (certified woman owned businesses, WBE) WE USA Women’s Enterprise, they are creating a 2021 diverse supplier directory where you can get your WBE listed for free, for more information please click HERE. 
    • (Chicagoland businesses) Chicago Innovation Awards, for more information please click HERE. Deadline is July 30, 2021.