Prairie State Wire

The Illinois Department of Commerce and Economic Opportunity (DCEO) has announced a $10 million fund for Small Business Capital and Infrastructure Grants. The initiative is targeted at businesses owned by "Socially Economically Disadvantaged Individuals" with 25 or fewer full-time employees, as well as "Very Small Businesses" with fewer than 10 employees.

Grant amounts range from $10,000 to $245,000. These funds can be used for capital improvement expenses such as expanding existing buildings, constructing new facilities, site selection and land acquisition, architectural planning, and engineering design.

In the announcement, the governor’s office defined "Socially Economically Disadvantaged Individuals" as “historically underrepresented groups including people of color, women, people with disabilities, veterans, member of the LGBTQ community and more.”

Interested businesses can find further details on DCEO’s website. The state will not take bad credit or previous bankruptcies into account when deciding on grant recipients. Applications must be submitted by April 7, 2025, at 5:00 p.m.