Small Business Capital and Infrastructure Grant Program | Application deadline: April 7, 2025

The Small Business Capital and Infrastructure Grant Program designed to assist for-profit businesses with capital improvement projects in Illinois. To be eligible, businesses must meet a specific criterion, including being physically based in Illinois or demonstrating significant operations within the state and meeting GATA prequalification requirements. Recipients will receive awards between $10,000 - $245,000.

Community Development Grant | Application Ongoing

The City of Chicago Department of Planning and Development provides Small, Medium and Large Community Development Grant (CDG) awards. CDGs support a variety of eligible, business-related investments that create and maintain jobs and quality-of-life improvements for local residents. Business owners, property owners, non-profit organizations, community developers and entrepreneurs are encouraged to apply.

Small Business Improvement Fund | Application Ongoing

Five new Chicago districts are eligible to apply for the Small Business Improvement Fund (SBIF) monthly. This fund provides reimbursement grant funding for permanent building improvements and repairs across the city.

Neighborhood Opportunity Fund | Application Ongoing

The Neighborhood Opportunity Fund (NOF) provides grants up to $250,000 for small business and cultural projects located along West, Southwest, and South Side commercial corridors. NOF grants are provided as reimbursement for up to 75% of eligible project expenses with a maximum grant of $250,000.

Greenwood Archer Capital | Application Ongoing

Financing for small businesses that do not have access to loans from traditional sources. Provides loans up to $100,000 for established businesses and start-up businesses, as well as loans up to $200,000 for black-owned businesses seeking to acquire owner-occupied commercial real estate.

Small Business Administration (SBA) | Application Ongoing

Microloans of $50,000 or less to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.

504 Loan for long-term, fixed-rate financing that promotes business growth and job creation through the purchase or repair of real estate, equipment, machinery, or other assets. The maximum loan amount for a 504 loan is $5.5 million.

7(a) Loan provides financial assistance for Short- and long-term working capital, refinance current business debt, and purchase of furniture, fixtures, and supplies. The maximum loan amount for a 7(a) loan is $5 million.