Chicago – Democrats in the Senate recently joined the Illinois State recently to the Illinois Ministry of Trade and Economic Opportunities to announce a $ 10 million financing for the Economic Justice Office and enable the capital grant and infrastructure for small companies. This initiative aims to help small companies achieve sustainable growth, improve efficiency, create and preserve job opportunities through capital improvements.
“Programs are decisive because it gives priority to shares and promotes commercial business that has left the knees for a very long time,” said Selena Villanueva (democratic from Chicago). “By providing these resources, we not only support companies – we promote economic empowerment and generations growth.”
Grant financing can be used for qualified projects including planning, land possession and buildings, construction, site improvement, current equipment and perennial equipment. The qualified applicants include companies owned by socially deprived individuals that include up to 25 employees and very small companies that work less than 10 employees. Priority will be given to companies in the fields of investing financial institutions for community development, especially those that propose projects that create job opportunities, enhance economic growth, or enhance community participation.
Grants will be chosen through a competitive notification process with a funding opportunity. The qualified authorities can apply for grants ranging from $ 10,000 to $ 245,000. Applications will be accepted until April 7, 2025 at 5 pm
“Every dollar is invested in small companies to create opportunities for families, neighborhoods and entire societies,” said Senate for the state, Eligi Sims (Democrat from Chicago). “This grant program is a tangible step towards addressing systematic disparities and ensuring that all Illinois residents get a chance to achieve success.”
Illinois has made investment in small companies a priority, especially in responding to the Kofid-19 epidemic. Return to business and business interruptions through DCEO provided more than $ 705 million in the form of financing grants for small companies in the industries that are severely affected. In addition, the state has activated small business development centers to expand access to community pioneers and other resources designed to assist ambitious entrepreneurs.
To view the grant and apply to it, visit the DCEO website. Interested parties are encouraged to communicate with this email address protected from spam robots. You need to activate the Java Script to see it. To help the application. DCEO will hold an online symposium for technical assistance on February 4 at 11 am. Common questions in English and Spanish are available on DCEO.
