The 2023 Source Grant Program: $50 million Distributed to 3,000 Small Businesses

The 2023 Source Grant Program

Helping Small Businesses Become More Resilient

In 2023, Cook County launched a $50 million grant program as an investment in small businesses to help stabilize their operations, foster recovery and resiliency, and advance equity in the post-pandemic economy.

Cook County established this program because of the central role small businesses play in the local economy as community anchors, a source of employment for thousands, and a driver of economic growth. Program eligibility requirements included a location in Cook County, less than 20 employees, and having been in operation in 2019 pre-COVID and in operation in 2022, post-COVID.

The County prioritized businesses located in suburban Cook and businesses in sectors hard hit by COVID-19 like hospitality, restaurants, retail, etc. The program provided $10k or $20k awards depending on the businesses’ annual revenue.

The County engaged the Women’s Business Development Center (WBDC) and Allies for Community Business (A4CB) to serve as the Grant Administrators, and Next Street to serve as a Program Coordinator to assist with the management of The Source’s network of over 50+ partners and a multi-channel marketing campaign. Through an equitable, complex, and transparent review process, the County reviewed over 16,000 applications and awarded 3,000 small businesses with grants.

As of February 2024, all $50 million grant funds have been disbursed to 3,000 small businesses throughout Cook County. View The 2023 Source Grant awardee list here.

Access archived 2023 Source Grant FAQs here.