RESOURCES
Explore grants, loans, and alternative funding sources for your business.
- Loans: Funds borrowed from banks, credit unions, or online lenders, which must be repaid with interest over time. Loans often require collateral or a solid credit history.
- Grants: Funds provided by government agencies, foundations, or organizations that do not require repayment but are usually taxed. Typically awarded based on specific eligibility criteria or project goals.
- Alternative Funding: Non-traditional funding options, including crowdfunding, angel investors, or microloans. These can offer flexible terms and access for businesses with less conventional needs.
- Federal
- State
- City
- Corporations/Nonprofits
- Allies for Community Business Small Business Loans: Apply for term loans and lines of credit from $500 to $100,000 for businesses located in Illinois and Indiana. More information, here.
- CIBC Entrepreneur Loan Program: The program supports startup or early-stage small businesses that have completed a CIBC-approved entrepreneur training program (GROW/PROGRESANDO is an approved program) with important working capital. More information, here.
- Federal
- State
- City
- 14th District Small Business Security Infrastructure Grant: Grant funds will provide critically needed support to qualified State of Illinois 14th District businesses to implement violence prevention, business protection, and safety interventions. Deadline to apply is April 30 at 3 p.m. More information, here.
- Community Development Grants: These grants are part of the Chicago Recovery Plan and are administered by the Department of Planning and Development. These grants are meant to support small businesses, nonprofits and property owners for local commercial, mixed-use, and light manufacturing development. City staff will prioritize projects in areas of Chicago where there is a history of disinvestment or limited private investment. Applications are accepted on a rolling basis. More information, here.
- Corporations/Nonprofits
- Chicago Emergency Relief Program: The Southern Smoke Foundation created this grant that provides emergency funding to those employed by or own restaurants or bars that are facing unforeseen expenses that cannot or will not be covered by insurance. More information, here.
- DishRoulette Kitchen 2 Kitchen Grant: $1,000 grant for minority-owned restaurants in the Chicagoland area. Applications can be made in English or Spanish. Open to undocumented business owners. Rounds close at the end of each month at 11:59 p.m. If you are not selected for the grant, then your application is automatically rolled over for the next month of grant funding. More information, here.
- I Fund Women Grants (multiple): IFundWomen is the go-to funding marketplace for women-owned businesses and the people who want to support them with access to capital, coaching, and connections. They have a wide variety of grants available to their members, from their monthly “pay-it-forward” grants to those from their generous partners like Adidas, Unilever, Visa, Barbara Corcoran & Systane, Ginger Bread Capital and more. More information, here.
- Illinois Restaurant Association Educational Scholarship & Grant Application: One-time grants of $500 are available for employees of restaurants. More information, here.
Commercial Property Finder
Starting Your Business Quicklist
This checklist is provided as a guide to starting your business.
Business Plan Checklist
This checklist is provided to serve as a guide as you research
and develop your business plan
Helpful Links
City of Chicago
Cook County
State of Illinois
Federal Government
Small Business Assistance
Cook County Small Business Source
The Cook County Small Business Source strives to support, grow and elevate small businesses, the backbone of Cook County’s economy. This program directly connects small business owners with expert guidance and support to take businesses to the next level. Cook County established the award-winning program to ensure that businesses emerge from COVID-19 intact and positioned for growth.
LISC Small Business Services
Creating a successful small business requires grit, imagination, and key resources often lacking in communities of color. LISC bridges this gap with grants, loans, technical assistance, and borrower-friendly commercial and real-estate loan products, supporting systemically disadvantaged business owners, including people of color and women.
Small Business Majority
Small Business Majority is a national organization that empowers diverse entrepreneurs to build a thriving, equitable economy. They engage over 85,000 small businesses and 1,500 organizations to deliver resources and advocate for policies that foster inclusive small business growth. They work to ensure that entrepreneurs from all backgrounds have the support to succeed.
New Covenant Community Dev Corp.
NCCDC's been supporting small businesses and promoting economic development opportunities for budding entrepreneurs and business owners for over 10 years. A partner of the GROW/PROGRESANDO Program since 2020, NCCDC’s Business Financial Dashboard program will empower you to manage a flourishing business - By The Numbers!
