The Illinois Department of Commerce and Economic Opportunity (DCEO) is offering the Small Business Capital and Infrastructure Grant Program to support small businesses through funding for capital improvements and infrastructure projects. This initiative aims to drive economic growth and community development by enabling businesses to enhance their operations and contribute to local prosperity. With an estimated total funding pool of $10 million, the program anticipates awarding grants to approximately 40 recipients.

Eligible applicants can request funding ranging from $10,000 to $245,000. The grant does not require cost sharing or matching funds, and indirect costs are not allowed under this program. The application period opens on January 7, 2025, and closes on April 7, 2025, at 5:00 PM CST. Applicants are encouraged to review the Notice of Funding Opportunity (NOFO) for detailed eligibility requirements and submission guidelines, which can be accessed through the program’s page in the Catalog of State Financial Assistance (CSFA).

A technical assistance session will be held on January 14, 2025, at 11:00 AM CST to provide guidance to prospective applicants. While attendance is not mandatory, the session offers valuable insights into the application process. Interested parties can register for the session through a provided online link. For additional questions or support, applicants can contact Tiffany Hawkins at CEO.OE3Grant@illinois.gov.

This grant program represents a significant opportunity for Illinois small businesses to secure state funding for projects that align with capital development and infrastructure improvement goals. Businesses are encouraged to leverage this funding to enhance their operational capabilities, contribute to local economic development, and achieve long-term growth.