Top Small Business Grants in Illinois
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Grants for Small Businesses in Illinois
Illinois Tourism Attraction Grant Program
Program description: The Illinois Department of Commerce and Economic Opportunity (DCEO) awards grants to for-profit businesses, nonprofit organizations, and other entities that develop and enhance Illinois tourism attractions. Incentive: Businesses can receive matching grants ranging from $15K to $500K to help reinvigorate tourism in Illinois. General requirements: Here are some of the general requirements for this grant: Have a valid federal Employer Identification Number (EIN) Propose a viable project that promotes sustainable economic growth and tourism in Illinois Have a current System for Award Management (SAM) registration Have a valid Unique Entity Identifier (UEI) number Company not listed on the Federal Excluded Parties List Be in good standing with the Illinois Secretary of State, as applicable Not listed on the Illinois Stop Payment list Not listed on the Illinois Department of Healthcare and Family Services Provider Sanctions list How to apply: You can access the Illinois Tourism Attraction grant application on the DCEO website.
Illinois Reproductive Health Facilities Capital Grant Program
Program description: Illinois offers matching grants to nonprofit and for-profit clinics providing or planning to provide pregnancy-related services in a clinical setting. Incentive: Receive grant awards ranging from $50K to $500K to help cover capital improvement expenses toward security enhancements or facility upgrades. General requirements: Here are some of the general requirements for this grant: Have employees, volunteers, or agents who are licensed health care professionals Provide or plan to provide abortion care as defined in the Illinois Reproductive Health Act, as well as one or more of the following pregnancy-related services: Contraception and contraceptive counseling Pregnancy testing Pregnancy diagnosis Pregnancy options counseling Limited obstetric ultrasound Obstetric ultrasound Obstetric sonogram Sexually transmitted infections testing Prenatal care Have a valid federal EIN Have a current SAM registration Have a valid UEI number Company not listed on the Federal Excluded Parties List Be in good standing with the Illinois Secretary of State, as applicable Not listed on the Illinois Stop Payment list Not listed on the Illinois Department of Healthcare and Family Services Provider Sanctions list How to apply: You can access the Illinois Reproductive Health Facilities Capital Grant application on the DCEO website.
Illinois Federal Grant Support Program
Program description: Illinois offers state-based financial assistance to eligible small businesses in Illinois that have also received federal grant awards. Incentive: Receive state-based matching grants ranging from $10,000 to $2 million if you’ve also been approved for specific federal grant awards. General requirements: Here are some of the general requirements for this grant: Be an Illinois-based organization or business Be the primary applicant on a federal award application Have a project proposal where at least 51% of the total project activities occur in Illinois Have a valid federal EIN Have a current SAM registration Have a valid UEI number Company not listed on the Federal Excluded Parties List Be in good standing with the Illinois Secretary of State, as applicable Not listed on the Illinois Stop Payment list Not listed on the Illinois Department of Healthcare and Family Services Provider Sanctions list Project must be eligible for a specified federal grant program You agree to provide matching funds toward the project Applicants for federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are ineligible for this grant but may be eligible for the DCEO’s separate Phase I SBIR/STTR Matching Grant Program How to apply: You can access the Illinois Federal Grant Support Program application on the DCEO website.
Chicago Small Business Improvement Fund (SBIF) Grants
Program description: Chicago SBIF grants can reimburse small business owners for some of their costs of renovating, remodeling, or improving the appearance and viability of eligible commercial properties in the Windy City. Incentive: Receive up to $150K in reimbursements for making improvements to eligible commercial properties and up to $250K for enhancing eligible industrial properties in Chicago. General requirements: Here are some of the general requirements for this grant: Be the owner or tenant of an eligible Chicago business property located in a Tax Increment Financing (TIF) district where SBIF funds are available Have gross annual sales not exceeding $9 million on average over the previous three years if you’re a small business owner Have a net worth not exceeding $9 million and liquid assets up to $500,000 if you’re a commercial property owner Have 200 or fewer full-time employees if you’re an industrial business owner Make permanent building improvements to eligible commercial or industrial property in the Windy City Operate an eligible business that’s not one of the following ineligible businesses: Chain and franchise businesses Branch banks Day labor employment agencies Currency exchanges, payday loan operations, or title secured loan stores Pawn shops Fortune telling services Liquor stores and nightclubs Adult uses Track waging facilities K–12 schools Gas stations Firearms dealers Places of worship Smoke shops and cigar lounges Tobacco dealers, including sales of tobacco, nicotine, or similar products and accessories Residential storage warehouses Trailer-storage yards, junk yards, and similar uses How to apply: Access the grant application online through SomerCor 504 Inc., the nonprofit that administers Chicago’s SBIF Grant Program. You can email your completed application to SomerCor.
Illinois State Trade and Export Promotion (ISTEP) Grants
Program description: ISTEP is a grant reimbursement program that can help you export your goods and services from the Prairie State to foreign markets. Incentive: Receive up to $10K in reimbursements for eligible business expenses, including website translation and international trade show participation costs. General requirements: Here are some of the general requirements for this grant: Be an Illinois firm with headquarters or a substantial facility based within the Prairie State Be an active small business in existence for at least 12 months Be profitable with gross annual revenue of at least $250K Have products or services that contain at least 51% U.S. and 25% Illinois content or that substantially contribute to Illinois job creation How to apply: Access the ISTEP grant application and web submission form on the DCEO website to apply. Companies applying for or receiving any other local, state, or federal grant funds associated with export promotion generally are not eligible for this grant.
Who Provides Small Business Grants in Illinois?
Arizona small business grants California small business grants Colorado small business grants Florida small business grants Georgia small business grants Indiana small business grants Maryland small business grants Michigan small business grants NC small business grants New York small business grants NJ small business grants Ohio small business grants Pennsylvania small business grants Texas small business grants Wisconsin small business grants
Do You Have to Pay Back a Small Business Grant?
Who Is Eligible for Small Business Grants in Illinois?
What Industries Does Illinois Support With Grants?
Manufacturing Reproductive health clinics Retail trade (store and nonstore retailers) Travel agencies
Illinois Resources for SMB Owners Looking for Funding
Illinois Small Business Development Centers (SBDC)
Business training seminars and webinars Marketing research One-on-one business advice and management assistance
SBA District Office in Illinois
Alternative Funding Sources for Small Businesses in Illinois
Illinois State Small Business Credit Initiative (SSBCI)
Advantage Illinois Loan Guarantee Program — $114.8 million. This program provides a guarantee of partial principal repayment to the lender if a small business loan goes into default. Innovation Venture Fund (INVENT) — $114.8 million. This program will help eligible startups access venture capital. Advantage Illinois Participation Loan Program — $105 million. This program uses SSBCI funds alongside private funds to support small business loans to eligible borrowers, including socially and economically disadvantaged individuals. Climate Bank Finance Participation Loan Program — $20 million. This program uses SSBCI funds to help support the financing needs of small businesses involved in environmental or “green” activities.
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