FAQs Category: General

The Cook County Small Business Source proudly introduces The 2023 Source Grant, which will provide $40 million in grants to small businesses coupled with no-cost advising and coaching services, to help stabilize operations, foster recovery and resiliency, and advance equity in a post-pandemic economy. 

Businesses located in Cook County with fewer than 20 full-time employees that were in business prior to 2020 are eligible to apply. The program will prioritize businesses:

• Located in suburban Cook County
• Businesses negatively impacted by COVID in sectors hardest hit by COVID including Arts & Entertainment; Childcare & Social Assistance; Hospitality, Food & Tourism; Retail Trade; Transportation & Warehousing.
• $500,000 dedicated to Veteran-owned small businesses. 

The 2023 Source Grant program will offer two types of grants based on 2019 gross revenue:

• Businesses with 2019 gross revenue between $20k-$50k are eligible to receive $10,000 grants.
• Businesses with 2019 gross revenue of more than $50k are eligible to receive $20,000 grants.

Cook County has allocated $40 million of its federal American Rescue Plan Act (ARPA) funds to support small businesses in 2023.

Cook County has contracted with the Women’s Business Development Center to administer this grant program (WBDC) and WBDC has engaged Allies for Community Business. Together the two organizations will administer this grant program. WBDC has also engaged Next Street to serve as  the Program Coordinator. 

Below please find a list of The Source’s  partners and the services they provide. Business Support Organizations (BSOs) provide free -no-cost business advising and Referral Partners provide  marketing and outreach outreach services. A full list of partners can be found below.

Business Support Organizations

• 36Squared Business Incubator
• Allies for Community Business
• Berwyn Development Corporation
• Chicago Minority Supplier Development Council
• Chicago Urban League
• Greater Southwest Development Corporation 
• Illinois Hispanic Chamber of Commerce
• Illinois Restaurant Association
• Rogers Park Business Alliance 
• Southland Development Authority
• Women’s Business Development Center

Referral Partners

• Alsip Chamber of Commerce and Economic Development
• Arab American Business Association
• Arts Alliance Illinois
• Asian American Chamber of Illinois
• Austin Chamber of Commerce
• Blue Island Area Chamber of Commerce & Industry
• Chicago Southland Chamber of Commerce
• Chicago Southland Economic Development Corporation
• Chicago’s North Shore Convention and Visitors Bureau
• Chinese Mutual Aid Association
• Des Plaines Chamber of Commerce
• Elgin Area Chamber of Commerce
• Evanston Chamber of Commerce
• Far South Community Development Corporation
• Greater Auburn Gresham Development Corporation
• Greater Wheeling Area Chamber of Commerce
• IL Action for Children
• Illinois Business Immigration Coalition
• Lansing Chamber of Commerce
• Melrose Park Chamber of Commerce
• Mount Greenwood Community and Business Association
• Native American Chamber of Commerce
• New Covenant CDC
• Next Level Northwest
• Northbrook Chamber of Commerce
• Northwest Hispanic Chamber of Commerce
• Northwest Side Community Development Corporation
• Polish American Chamber of Commerce
• Puerto Rican Cultural Center
• Schaumburg Business Association
• SomerCor
• South East Chicago Commission
• South Shore Chamber of Commerce
• Southland Black Chamber of Commerce
• Southwest Collective
• The Joseph Center
• U.S. Pan-Asian Chamber of Commerce Midwest Region
• West Suburban Chamber of Commerce & Industry
• Winnetka-Northfield-Glencoe Chamber of Commerce

The pool of funding for this grant program is $40M

The application window will open on July 20^th and remain open until August 25^th with grants distributed in January 2024

The selection process will begin in late August and conclude at the end of October. Decision notifications are expected in December 2023 with electronic disbursements occurring in January 2024