Grant Follow-Up

Thank you for your interest in the Cook County Small Business Source Grow Grant! This opportunity resulted in
nearly 22,000 applications received during the grant period this October, and will ultimately award 2,250 grants.

This program provides grants to small businesses to foster their recovery and resiliency from the pandemic, scale their operations and thrive in Cook County.

Applications have now closed, and are under review. As part of the application review process, your business’ status of Good Standing with the State of Illinois will be reviewed. Click here to search and check your business’ Good Standing status.

The applicant notification period will begin in early 2023.

We know running a small business is hard, and The Source offers no-cost business advising, online resources and informational events to help grow and elevate your business. Check out Cook County Small Business Source for more information.

What Is The Cook County Small Business Source Grow Grant (“The Source Grow Grant”)?

The Source Grow Grant provides $10,000 grants to small businesses coupled with advising and coaching services. Cook County designed this program to close racial wealth and opportunity gaps and to foster the resiliency of small business.

How Much Funding Is Available?

Currently there is $25.5M. Each grant will be $10,000.

When Will Grant Recipients Receive Notifications Of Their Grant Award?

The review process will begin in November. Applicants will be notified of their application status in early 2023 and receive payment 6-8 weeks later.

How may grant funds be used?

The grant may be used for business expenses only including payroll, operating expenses, lease or rent payments, and inventory acquisition vital to the business. Funds cannot be used for capital improvements or personal expenses.

Will all eligible applicants receive grant dollars?

No. There will be a total of 2,550 grants awarded and we anticipate that demand will exceed that. Grant applicants may have multiple opportunities to be prioritized in the selection process.

Will my application impact my existing public benefits or eligibility?

No. Submitting an application will not impact your existing public benefits

Will my information be kept confidential and secured?

Yes, all information contained in this application will remain confidential and will not be shared. Applications are submitted via Smartsheet. Smartsheet uses encryption to ensure your data is protected from unauthorized disclosure. Encrypted connections to the platform can only be made via https with up-to-date TLS versions and AES encryption. Once customer data is in the platform, it is securely protected with AES encryption. To read more about Smartsheet’s security measures, click here.

How can small businesses provide feedback on The Source Grow Grant ?

A feedback system will be put into place to gather relevant data for impact measurement.

Are grant proceeds taxed?

Yes. Recipients of a grant award will receive tax information related to their grant proceeds, which will need to be reported on their tax returns. Please consult with a tax professional for additional information.

If an application is incomplete or needs modification, will I be given the opportunity to re-submit my application?

During the application period, if an application needs to be modified or is incomplete, you may submit another application that is a corrected version or a version with all the required documentation.  Once the application window is closed on Oct. 31st, no additional applications for any reason will be accepted.

What if I never received a confirmation email? How can I confirm my application submission?

You may email: info@cookcountysmallbiz.org  to inquire/confirm about whether or not your application was received.

How can I check the status of my grant application?

The review process is currently underway and applicants will be contacted when applicable or appropriate.

Can I withdraw my application?

You can withdraw your application by emailing: info@cookcountysmallbiz.org

Business Support Organizations

The Cook County Small Business Source’s Business Support Organizations (BSOs) provide small business owners with the expert advice and assistance they need to succeed through free one-on-one expert business advising.

Questions?

If you have any questions, contact info@cookcountysmallbiz.org