CHICAGO – State Senator Mike Simons announced the launch of the 7th District Small Business Recovery Grant, which will provide $2.5 million to assist small businesses located in the 7th District.
“Small business owners throughout the 7th District have repeatedly reached out to my office or stopped me in traffic to talk about the pressures they are facing. My staff and I have seen a clear trend of small businesses closing unnecessarily or prematurely in their driveways,” said Simmons (D-Chicago). Businesses across the region.” “This initiative is a direct response to what we have seen, and will provide much-needed support to entrepreneurs and small businesses across our region who are struggling.”
The 7th District Small Business Recovery Grant aims to provide funds to small businesses that have missed out on previous financing opportunities, are at risk of closing, are facing financial hardship, and are identified as historically underserved. Simmons received funding in the Fiscal Year 2024 budget to provide one-time $10,000 microgrants to eligible small businesses operating brick and mortar locations within the 7th District.
“Across the city and country, small businesses are struggling to survive. We work hard to keep our businesses running, take good care of our employees, engage our communities, and make our dreams come true. It's difficult to compete with larger companies that have more of a workforce,” said Miya Sakai, owner Andel Market in Andersonville: “It's part of the business. Money, resources and purchasing power, but also part of the business.” Creating these grants will undoubtedly help many small businesses, like mine, that have faced a myriad of challenges since the outbreak of the pandemic.
DMApothecary, a small business offering clean green beauty products in Rogers Park, has recently suffered multiple floods and a roof collapse in the past 15 months.
“This inconvenience to our very small business has put us at immediate risk of potentially having to close completely,” said Deirdre Austin, owner of DMApothecary. “This grant provides hope that we will be able to continue serving our community as well as carry out our personal legacy as a family-owned business.”
“The 7th District Small Business Recovery Grant is a timely investment in the community that will help stabilize many small businesses,” Simmons said. “I am proud to be able to provide this funding and want to thank each of the five chambers of commerce and community organizations that work closely with the Illinois Department of Commerce and Economic Opportunity to ensure this grant initiative helps those who need it most.”
The scholarship is offered in partnership with the Illinois Department of Commerce and Economic Opportunity and facilitated by five local organizations:
Andersonville Chamber of Commerce Rogers Park Business Alliance Edgewater Chamber of Commerce Uptown United Lincoln Square Ravenswood Chamber of Commerce
“For 100 years, the Uptown Chamber of Commerce has provided its members with personalized service to help them address the challenges they face. “The last few years have been tough for our businesses — and we're seeing that with the closures on Along our corridors.” “Additional financial support is one of the most requested services we are asked to provide. We are excited to work with State Senator Mike Simmons, D-VP, and our 7th District Chamber colleagues to provide additional assistance to our business neighbors.
“Over the years, businesses have faced many challenges. The shift in the restaurant industry since the pandemic lockdown, staff shortages and keeping up with orders are some of the challenges we have faced,” said Almaz Yegezaw, owner and operator of Ethiopian Diamond Diamond Restaurant. “The grant will give us the opportunity to give back to our community that has supported us.” Since the beginning. This grant will provide us with the opportunity to fully express the vision we have built for our restaurant, and renew the spirit of Ethiopian Diamond Restaurant.
“As the son of two long-time small business owners, I am thrilled to launch this targeted and unprecedented assistance to small businesses that are a hallmark of our region and its neighborhoods,” said Simons. “Small businesses are really hurting right now from the ongoing economic impact of the pandemic, inflation, neighborhood gentrification and rent increases,” said Simons. building sales, lack of credit, language barriers, and other difficulties.” “This grant will ease financial burdens so our small businesses stay open, continue to grow, and continue to define and serve our communities.”
Applications for the 7th District Small Business Recovery Grant will close on February 2, 2024 at 5pm to apply or learn more about eligibility and application requirements, visit 7sbrg.org.
