Annual Small Business Grant Opportunity
GrantID: 57086
Grant Funding Amount Low: $10,000
Deadline: Ongoing
Grant Amount High: $100,000
Summary
This funding opportunity is intended to support growing enterprises within a specific region by offering financial assistance to help them strengthen their operations and expand their capacity. The program focuses on established organizations that demonstrate steady progress and a positive impact within their communities. Awards can reach up to $100,000, providing meaningful resources for recipients to pursue growth-oriented goals.
Funds may be used for a variety of business development purposes, such as making improvements to physical spaces, purchasing essential equipment, or expanding staff. The intent is to help recipients enhance productivity, increase stability, and create opportunities for continued growth. The program aims to promote economic resilience and encourage long-term investment in the local business landscape.
This opportunity is generally available to for-profit entities operating within select areas of a larger metropolitan region. Applicants are expected to show evidence of financial consistency and demonstrate a clear plan for using the funds to strengthen their organization. While nonprofit and individual applicants are not typically eligible, the initiative prioritizes businesses that contribute to local job creation and community development.
Beyond financial support, selected participants may also gain access to guidance and business resources that help them effectively manage their expansion and sustain success over time. By offering consistent annual opportunities, this program provides a pathway for business owners to continue developing their enterprises while contributing to the broader growth and vitality of their region.
Overall, this funding initiative reflects a long-term commitment to empowering local business owners, fostering inclusive growth, and supporting economic advancement within the community.
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Eligible Regions
Interests
Eligible Requirements
Grant Detailed Description
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📌 Organization Profile: Cook County Small Business Source
About the Organization:
The Cook County Small Business Source (also known as “The Source”) is a county-level business support initiative operated in partnership with the Cook County Bureau of Economic Development and a network of Business Support Organizations (BSOs).
Mission / Focus:
The Source is committed to supporting, growing, and elevating small businesses—particularly those that have been historically underserved. It provides no-cost business advising, resources, and access to grants and financing opportunities across Cook County.
Background / History:
Launched in 2020 in response to the COVID-19 pandemic, the program initially focused on recovery and resiliency for small businesses in the region. Since then, The Source has grown its network of BSOs and referral partners and has served tens of thousands of businesses.
Types of Support / Grant Types:
The Source offers one-on-one business advising, workshops, resource libraries, and access to grant opportunities tailored for small businesses in Cook County.
📑 Annual Grant Listing
🧾 Grant Name: Catalyst Grant (
Grant URL: https://cookcountysmallbiz.org/catalystgrant
Funding Priorities & Interests:
The Catalyst Grant is designed to help established, growing for-profit businesses scale operations—specifically supporting increased workforce, equipment purchases, facility upgrades, and other capital investments.
Priority sectors include Construction, Finance & Insurance, Information Technology (IT/Tech), Manufacturing, Professional Services, and Real Estate.
Eligible Applicants:
For-profit businesses only. Non-profits are not eligible. Applicants must be located in Cook County (city of Chicago or suburban Cook County).
Eligibility Criteria:
Business must have at least one full-time employee in addition to the owner (eg..in 2024 and at time of application for the 2025 annual round).
Eg. - revenue in both 2023 and 2024 (for 2025 annual round) must be between $500,000 and $10 million.
Must demonstrate business growth: increase in net income from eg. 2023 to 2024 for 2025 annual round, and increase in full-time employee count over the same period.
Must operate in one of the eligible sectors listed above.
Ineligible entities include non-employer businesses, nonprofits, government-owned entities, cannabis businesses, and gambling operations.
Eligible Locations:
City of Chicago and suburban Cook County, Illinois.
Approximately 75% of grants are expected to go to businesses located in CDFI Investment Areas, though there is no preference between city and suburban applicants.
Grant Amount / Range:
Up to $100,000 per business.
Use of Funds / Terms:
Funds may be used for equipment purchases, facility upgrades, and workforce investments.
Funds must be spent within 18 months of award and cannot reimburse expenses incurred before the award date.
Go to the program website for additional information/updates.