Agencies
Services
Small & Emerging Business Hub
Discover Financial Support for Your Business
Please note that the resources below are not administered by the IPA. For questions on these resources please contact appropriate entities responsible for these resources.
Federal Funding
State Small Business Credit Initiative (SSBCI) – Climate Bank Finance Participation Loan Program
The State Small Business Credit Initiative (SSBCI) is a federally funded program administered in Illinois by the Illinois Finance Authority’s Climate Bank. It provides low-interest loans ranging from $25,000 to $2 million to small businesses undertaking clean energy and climate-related projects.
U.S. Small Business Administration (SBA) Guaranteed Loan Program
The SBA guaranteed loan program offers several types of loans for small businesses through approved lenders. These loans can be used for most business purposes, including long-term fixed assets and operating capital.
U.S. Small Business Administration (SBA) 8(a) Business Development Program
The 8(a) Business Development program is a federal contracting and training program for small businesses that are considered socially and economically disadvantaged.
Illinois Funding
Cook County Small Business Source
Resource provided by Cook County to help small businesses grow and excel by providing necessary resources to reach success
Clean Energy Jobs and Justice Fund (CEJJF)
CEJJF is dedicated to fostering a sustainable future for all Illinois residents. They offer accessible loans and grants to residents, business owners, and clean energy business alike to promote access to the benefits of clean energy and energy efficiency.
Veterans
Veterans Business Outreach Center (VBOC)
The Veterans Business Outreach Center (VBOC) program offers resources to small and emerging veteran-owned businesses.
Hivers & Strivers Capital offers funding and project-based counseling for veteran-owned businesses.
Socially and Economically Disadvantaged Individuals (SEDIs)
T.H.R.I.V.E. Emerging Leaders Reimagined
T.H.R.I.V.E. provides entrepreneurship education and a training program for executives of small businesses, which includes a mentorship component.
RiseKit: Connecting Underrepresented Talent to Employment Opportunities
RiseKit is a Chicago-based job matching software platform that bridges the gap between underrepresented job seekers and employers seeking to fill critical roles.
The NASE Growth Grant offers rolling grants of up to $4,000 for small businesses that are members of the National Association for the Self-Employed.
Woman and Mothers
Boundless Futures Foundation EmpowHer Grants
The Boundless Futures Foundation EmpowHer Grants support social impact women-owned businesses that have been in business no more than 3 years with up to $25,000 in funding.
Kitty Fund Mompreneur Business Grant
The Kitty Fund Mompreneur Business Grant offers grants of up to $1,000 for women-owned small businesses that have an owner that identifies as a mother.
The Amber Grant offers rolling grants of up to $25,000 for small women-owned businesses.
Returning Citizens
The National Reentry Network for Returning Citizens
The National Reentry Network for Returning Citizens serves their national membership of returning citizens and their families with counseling, training, and mentorship opportunities. They also offer a 24-hour, 356-day Reentry Helpline information service for returning citizens.
Certifications
The MySBA Certifications portal may be used to certify as a small business, veteran-owned, or women-owned business to qualify for federal opportunities and contracts.
City of Chicago Certification and Compliance System (C2)
The City of Chicago Certification and Compliance System (C2) portal may be used to certify as a women-, minority-, veteran-, or disabled-owned business and access a directory of certified businesses in Chicago.
The BACP Entrepreneur Certificate Program provides training for small businesses interested in growing their business in Chicago by gaining knowledge across various business topics.
DCEO Grants and Funding
The Department of Commerce and Economic Opportunities (DCEO) provides several grants and funding resources to support organizations throughout Illinois.
- Advantage Illinois: Loan financing and loan guarantee programs
- Instructional Video: DCEO and Climate and Equitable Jobs Act Resources
- Jobs and Environmental Justice Grant Program: This CEJA program includes up-front capital and pre-development funding to develop solar and energy efficiency projects in eligible communities.
- Community Solar Energy Sovereignty Grant Program- As part of the Jobs and Environmental Justice Grant Program, the Community Solar Energy Sovereignty Grant Program provides grants to municipalities and community organizations to support the predevelopment and development of solar community projects that promote community ownership and energy sovereignty. Up to $8.5 million will be allocated annually for this program, subject to appropriation. To learn more, visit the DCEO website.
- Equitable Energy Future Grant Program- As part of the Jobs and Environmental Justice Grant Program, the Equitable Energy Future Grant Program provides pre-development funding of up to $1 million for the development of energy efficiency and renewable energy projects. Funding supports Equity Eligible Contractors, community organizations, and job creation benefitting historically disadvantaged populations. To learn more, visit the DCEO website.
- Energy Transition Community Grant - Grants to communities that have experienced or will experience a fossil fuel or nuclear plant or mine closure. Grant funds can be used to address the economic and social impact on the community of the retirement or transition. To learn more, visit the DCEO website.
- For updates on CEJA grant programs, visit the DCEO website.
- For resources and trainings related to grants opportunities administered by DCEO, visit the DCEO website.
Get Support for Applying for Funding:
U.S. Small Business Administration (SBA) – Illinois District Office The SBA helps small businesses by providing funding programs, counseling, federal contracting certifications, and disaster recovery, and can connect businesses to partner organizations, lenders, and other community groups that help small businesses succeed.
Minority Business Development Agency (MBDA) The U.S. Department of Commerce partially funds the MBDA Business Center which helps clients secure capital, access new markets, compete for contracts, and make strategic partners and business moves.
Other State, Federal, and Local Grant Opportunities:
Illinois Catalog of State Financial Assistance highlights a list of open grant and funding opportunities across Illinois state agencies.
Grants.gov publishes federal funding opportunities for organizations that support the development and management of government-funded programs and projects.
City of Chicago’s Small Business Improvement Fund promotes economic development by providing small businesses with reimbursable grants for permanent building improvement costs.