Illinois and Chicago leaders announced a new grant program to support businesses owned by historically underrepresented populations and small businesses. The program will provide $10 million in funding for eligible projects, aiming to create sustainable growth, improve efficiency, and generate jobs.
Illinois and Chicago leaders have announced a new grant program aimed at supporting businesses owned by historically underrepresented populations and small businesses. The program, unveiled Thursday morning on Chicago 's West Side, will provide $10 million in funding through the Office of Economic Equity and Empowerment Small Business Capital and Infrastructure Grant Program.
This initiative is designed to empower businesses owned by groups that have historically faced systemic disadvantages, as well as very small businesses with fewer than 10 employees. The grants can be used for a variety of eligible projects, including planning, land and building acquisition, construction, site improvements, rolling stock, and durable equipment. Officials emphasize that supporting small businesses not only boosts local economies but also contributes to the overall health and success of communities. The program aims to create sustainable growth, improve efficiency, and generate new jobs for these businesses.The announcement took place at The Will Group, a company that received funding from a previous iteration of the grant program to expand its manufacturing presence on Chicago's West Side. Qualified organizations include businesses owned by Socially Economically Disadvantaged Individuals (SEDIs), with a maximum of 25 full-time permanent employees, and Very Small Businesses, with less than 10 employees. SEDI encompasses businesses owned by historically underrepresented groups, including people of color, women, people with disabilities, veterans, members of the LGBTQ community, and others. Priority will be given to businesses located in Community Development Financial Institution Investment Areas, particularly those with project proposals focusing on job creation, economic revitalization, or increased community engagement
Small Business Grants Historically Underrepresented Businesses Economic Equity Illinois Chicago
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Illinois Lottery Player Wins $10 Million on Scratch-Off TicketA lucky Illinois Lottery player won $10 million on a scratch-off ticket purchased at a Speedway gas station in South Elgin. This marks the third $10 million prize won from the '$10 Million' scratch-off game.
Read more »
Illinois Lottery Player Wins $10 MillionAn Illinois Lottery player started 2025 with a lucky win of $10 million from a scratch-off ticket purchased in South Elgin.
Read more »
All One Chicago Crossover Events, RankedMatt Casey in Chicago Fire, Erin Lindsay in Chicago PD, and April Sexton in Chicago Med.
Read more »
Gen Z cashiers have no idea whether dollar bills are real — and it's driving bosses and customers battyGen Z cashier mistakes older $10 bill as ‘counterfeit’
Read more »
Neutrogena Hydro Boost Body Gel Cream on Sale: Dermatologist-Approved Hydration for Under $10This popular body lotion is lightweight, absorbs quickly, and features hydrating ingredients like hyaluronic acid. Shoppers rave about its effectiveness for both dry and aging skin.
Read more »
US ETFs Top $10 Trillion in Assets, Alternative ETFs SurgeU.S. exchange-traded funds (ETFs) have hit a record $10 trillion in assets. November saw strong flows into ETFs, with both traditional and alternative ETFs experiencing significant growth.
Read more »