About The Grant
The Illinois Department of Commerce and Economic Opportunity (DCEO) has introduced the Small Business Capital and Infrastructure Grant Program to support small businesses owned by Socially and Economically Disadvantaged Individuals (SEDI) and Very Small Businesses (VSBs) across Illinois. This initiative aims to provide financial assistance for capital improvement projects that foster sustainable growth, enhance operational efficiency, and promote job creation and retention. With an estimated total program funding of $10 million, the grant offers awards ranging from $10,000 to $245,000. Priority consideration will be given to applicants located in Community Development Financial Institution (CDFI) Investment Areas, emphasizing the program’s commitment to uplifting underserved communities.
Eligible projects under this program encompass a wide range of capital improvements, including architectural planning, land and building acquisition, construction of new facilities, and site enhancements such as grading, paving, and utility installations. The application window is open from January 7, 2025, to April 7, 2025, closing precisely at 5:00 PM CST. Applicants are encouraged to attend the informational webinar scheduled for February 4, 2025, at 11:00 AM CST to gain insights into the application process and program specifics. All interested parties must ensure they are pre-qualified for State of Illinois programs prior to applying.
Important Details
- Application Deadline: April 7, 2025, by 5:00 PM CST.
- Link to Application: Small Business Capital and Infrastructure Grant Program
- Donor Name: Illinois Department of Commerce and Economic Opportunity (DCEO)
- State(s): Illinois
- Grant Duration: Anticipated performance period from August 1, 2025, through July 31, 2027.
- Grant Amount: Awards range from $10,000 to $245,000, with a total program funding of $10 million.
- Qualification Criteria:
- For-profit businesses located in Illinois.
- Owned by Socially and Economically Disadvantaged Individuals (SEDI) with a maximum of 25 full-time permanent employees, or Very Small Businesses (VSBs) with fewer than 10 employees.
- Pre-qualification for State of Illinois programs is mandatory.
Taking Action
This grant presents a significant opportunity for small businesses in Illinois to secure funding for essential capital improvements. With the application deadline approaching on April 7, 2025, it’s imperative to begin the pre-qualification and application process promptly. Attending the upcoming informational webinar on February 4, 2025, can provide valuable guidance. Share this opportunity with your network of Latino businesses to ensure widespread awareness and participation.
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