The Illinois Department of Commerce & Economic Opportunity (DCEO) has launched the Small Business Capital and Infrastructure Grant Program (Notice of Funding Opportunity 2160-2940). A total of $10 M is available in grant funding. This grant was created to support businesses owned by socially and economically disadvantaged individuals (SEDI) or very small businesses (VSBs)1 to support small business capital improvement projects. This program will offer small business grants across the state to help eligible businesses achieve sustainable growth, improve efficiency, and create and retain jobs.

Applications open between January 7 and April 7, 2025

The Berwyn Development Corporation has been tasked with conducting outreach efforts to the business community. An overview of the grant eligibility and requirements is outlined below. Additionally, we ask that you please send the attached announcement on your letterhead to your business community.

Award Range: $10,000-$245,000.

To apply for this grant, businesses will first need to:

• Obtain pre-qualification for State of Illinois programs

• Watch this training video for more information: https://www.youtube.com/watch?v=IB_oEc4Y2Dg

Eligibility Requirements:

1. Must be a for-profit business located in Illinois

2. Must be owned by Socially Economically Disadvantaged Individuals (SEDI) w/ a maximum of 25 full-time permanent employees

3. OR Very Small Businesses (VSBs), businesses w/ less than 10 employees

Examples of eligible bondable capital and infrastructure projects include:

1. Planning

2. Land and Building Acquisition

3. Buildings, Additions, or Structures

4. Site Improvements

For more information on eligible projects, view the Notice of Funding Opportunity at: https://dceo.illinois.gov/content/dam/soi/en/web/dceo/aboutdceo/grantopportunities/2160-2940/nofo-supplement-small-business-capital-and-infrastructure-grant-program-2160-2940.pdf

Application Instructions (click link below)

Application Instructions - Small Business Capital and Infrastructure Grant Program - 2160-2940

The IL Department of Commerce and Economic Opportunity will be hosting informational sessions in the coming weeks. Applicants can also register for recurring virtual office hours for session with DCEO staff. 

Recurring Virtual Office Hours: 

Multiple dates and times. For details, visit:

https://illinois.webex.com/webappng/sites/illinois/webinar/webinarSeries/register/83d075537b744450afa30d578b70ba70

For more information – visit https://dceo.illinois.gov/aboutdceo/grantopportunities/2160-2940.html or contact Tiffany Hawkins (Agency Contact) at CEO.OE3Grant@illinois.gov.