$245K for SEDI-Owned Small Businesses Donor: Illinois Department of Commerce and Economic Opportunity (DCEO) About: The Illinois Department of Commerce and Economic Opportunity has launched a transformative $10 million funding...
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Sign in to save this grantDonor: Illinois Department of Commerce and Economic Opportunity (DCEO)
About: The Illinois Department of Commerce and Economic Opportunity has launched a transformative $10 million funding initiative to empower small businesses owned by socially and economically disadvantaged individuals (SEDI). This capital and infrastructure grant program represents a significant opportunity for eligible small businesses to secure substantial funding for growth and development.
The program specifically targets infrastructure improvement, equipment acquisition, and property purchase needs of small businesses. With grant amounts ranging from $10,000 to $245,000, recipients can invest in critical areas that drive sustainable growth and operational efficiency. This funding opportunity is particularly valuable for businesses looking to expand their operations, enhance their facilities, or upgrade their equipment to meet modern market demands.
Special consideration is given to businesses operating within Community Development Financial Institution (CDFI) Investment Areas, emphasizing the program's commitment to community development and economic revitalization. This focus ensures that funding reaches areas where it can create the most significant impact on local economic growth and community engagement.
For businesses seeking to maximize their chances of securing this grant, Grantaura's expert team offers comprehensive support services. From eligibility assessment and application preparation to document writing and submission assistance, our professional grant consultants can help navigate the competitive NOFO process effectively.
Focus: Small business development, Infrastructure improvement, Equipment acquisition, Property purchase, Job creation, Economic revitalization, Community engagement
Region: Illinois, United States
Eligibility:
-Must be a small business owned by Socially Economically Disadvantaged Individuals (SEDI), including:
--Minorities
--Women
--People with disabilities
--Veterans
--LGBTQ+ community members
-Maximum of 25 full-time permanent employees
-Business must be located in Illinois
-Priority given to businesses in CDFI Investment Areas
-Must be pre-qualified through DCEO's grant system
Benefits:
-Grant funding ranging from $10,000 to $245,000
-No cost-sharing or matching requirements
-No indirect cost restrictions
-Technical assistance support
Deadline: April 7, 2025
Grant Expired
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Terms:
-SEDI: Socially Economically Disadvantaged Individuals
-DCEO: Illinois Department of Commerce and Economic Opportunity
-NOFO: Notice of Funding Opportunity
-CDFI: Community Development Financial Institution
-OE3: Office of Economic Equity and Empowerment
-CSFA: Catalog of State Financial Assistance
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