New Funding for Capital and Infrastructure Program to Support Growth of Minority-Owned Businesses Underway

Lawndale News Chicago's Bilingual Newspaper - Business

On Tuesday the Department of Commerce and Economic Opportunity’s Office of Minority Economic Empowerment is posting two Notification of Funding Opportunities for a total of $15 million to provide minority-owned businesses with resources to help create jobs, build capacity, increase revenues, and expand regionally. Ten million in funding is open to minority-owned businesses located in underserved populations. Eligible applicants include minority- owned businesses using the federal definition of minority owned firms (at least 51 percent of the firm is directly and unconditionally owned by one or more members of a minority group), start-ups or established businesses requiring public infrastructure improvements. Five million in funding is available for incubators who serve or would like to serve minority-owned businesses. The Department of Commerce and Economic Opportunity will offer informational workshops across the state for businesses and incubators seeking additional details about the grants. Sessions will be held in various neighborhoods including Pilsen, Little Village, Metro East, Southland, Decatur, Westside, West Suburbs, and Rockford. Interested applicants can also stop by one of the small business development centers located across Illinois. The application process is competitive and not all businesses or incubators will receive funding. Interested parties can go to https://www2.illinois.gov/dceo/AboutDCEO/Pages/2019_OMEE_NOFO.aspx.

Lawndale News Chicago's Bilingual Newspaper - Business

Comments are closed.