Kane County Minority Owned Businesses Eligible For $500,000 in State Grants
Kane County minor-owned businesses are eligible for up to $500,000 in state grants to create jobs, build scale and capacity, increase revenues, and expand regionally — but you’ll have to act fast to find out more.
The state of Illinois has announced a series of workshops — starting May 8 in Chicago — where minority-owned business owners can learn about a newly created state-funded capital and infrastructure program.
According to a news release from the Illinois Department of Commerce and Economic Opportunity, $10 million of the grant funding is available for minority-owned businesses.
“Capital access remains the most important factor limiting the establishment of minority-owned businesses,” the state website says. “It also inhibits the ability of economic growth in minority and underserved communities.”
The goal of the program is to ensure minority enterprises have an equal opportunity to contribute to the growth of Illinois’ economy and serve as an advocate for businesses, entrepreneurs and start-ups in traditionally economically-disadvantaged groups.
Applicants are eligible for up to $500,000.
Another $5 million is available for incubators who serve or would like to serve minority-owned businesses.
Business incubators provide support to increase survival for new start-ups to assist in growth during the start-up period when many businesses are vulnerable.
Incubators can assist by providing space or capacity; networking and consulting opportunities; professional services and training; and, they can supply resources including research and development.
Applicants are eligible for up to $250,000.
- Eligibility requirements for minority-owned businesses
- Eligibility requirements for incubators who serve or would like to serve minority-owned businesses
The deadline to apply is June 30, 2019. All applicants must be pre-qualified through the Grant Accountability and Transparency Act Grantee Portal. Application is not a guarantee of funding.
Direct questions to: ceo.accountability@illinois.gov
Workshop Information
Wednesday, May 8, 2019
- When: 9:30 a.m. to 11 a.m.
- Where: South Shore Cultural Center, 7059 S. South Shore Drive, Chicago
- Eventbrite link to register: https://nofo58.eventbrite.com
Thursday, May 9, 2019
- When: 10 a.m. to 11 a.m.
- Where: Mi Tierra Restaurant, 2528 S. Kedzie Avenue Chicago, IL 60623
- Eventbrite link to register: https://nofo5919.eventbrite.com
Thursday, May 9, 2019|
- When: 12:30 p.m. to 2 p.m.
- Where: Markham City Hall, 16313 Kedzie Parkway, Markham
- Eventbrite link to register: https://nofo59mark.eventbrite.com
Friday, May 10, 2019
- When: 10 a.m. to 11:30 a.m.
- Where: Woodson Regional Library Auditorium, 9525 S. Halsted , Chicago
- Eventbrite link to register: https://nofo510woodson.eventbrite.com
Monday, May 13, 2019
- When: 10:30 a.m. to noon
- Where: Decatur Public Library, 130 N. Franklin St., Decatur
- Eventbrite link to register: https://nofo513decatur.eventbrite.com
Monday, May 13, 2019
- When: 2 p.m. to 3:30 p.m.
- Where: The Gateway Building, 200 NE Water St., Peoria
- Eventbrite link to register: https://nofo513peoria.eventbrite.com
SOURCE: Illinois Department of Commerce and Economic Opportunity website
