Financial Assistance
If you need assistance email us to make a virtual appointment at helpdesk@rpba.org or call us at 773-508-5885.
Loans
Federal
State
Corporations/Nonprofits
- Allies for Community Business Small Business Loans: Apply for a small business loan at a special, discounted 3% interest rate. They offer term loans and lines of credit from $500 to $100,000 to businesses located in Illinois and Indiana. Refinances do not qualify and all applications are subject to A4CB standard underwriting and application review. More information here.
- CIBC Entrepreneur Loan Program: The program supports startup or early-stage small businesses that have completed a CIBC-approved entrepreneur training program with important working capital. More information here.
Grants
Federal
State
- Early Childhood Grant Program: Public school districts and nonprofit entities of early childhood centers may apply. Funding is being released in two rounds; $60 million will be awarded in the late fall of 2022, and the remaining $40 million at a date to be decided. Grant recipients are required to provide matching funds of between 3% and 10% based on ISBE Tier level for the local elementary school district. The deadline to apply is October 10, 2022. More information here.
- The Source Grow Grant: This grant provides $10,000 grant funds to small businesses, coupled with advising and coaching services, to foster their recovery and resiliency from the pandemic, scale their operations and thrive in Cook County. Applications are online only and will be accepted from October 3 to October 31, 2022. Applicants must be a for-profit business that was in operation prior to March 2020 with fewer than 20 employees that have experienced negative financial impact due to COVID-19. This grant prioritizes businesses owned by Black, Latino(a), other People of Color, Women, Veterans, LGBTQ+ and persons with a disability in sectors hard hit by COVID like arts, childcare, hospitality, retail, restaurants and transportation. More information here.
City
Corporations/Nonprofits
- Chicago Emergency Relief Program: The Southern Smoke Foundation created this grant that provides emergency funding to those employed by or own restaurants or bars that are facing unforeseen expenses that cannot or will not be covered by insurance. We stand with those in our community and are committed to “taking care of our own”. More information here.
- Comcast RISE Program: Comcast RISE, is a multi-year commitment to providing marketing, creative, media and technology services to small businesses owned by people of color or women. The application deadline is Friday, October 14, 2022. More information here.
- ComEd Small Business Assistance Program: The Small Business Assistance Program provides eligible small business customers, with a one-time grant of up to $1,000 towards a past due balance, once every 12 months. Eligible customers may also place a remaining balance into a payment plan of up to six months. More information here.
- DishRoulette Kitchen 2 Kitchen Grant: $1,000 grant for minority-owned restaurants in the Chicagoland area. For more information visit here. Applications can be made in English or Spanish. Open to undocumented business owners. Rounds close at the end of each month at 11:59 p.m. If you are not selected for the grant, then your application is automatically rolled over for the next month of grant funding.
- Fearless Strivers Grant: Black woman-owned businesses may apply. The deadline varies. More information here.
- I Fund Women Grants (multiple): IFundWomen is the go-to funding marketplace for women-owned businesses and the people who want to support them with access to capital, coaching, and connections. They have a wide variety of grants available to their members, from their monthly “pay-it-forward” grants to those from their generous partners like Adidas, Unilever, Visa, Barbara Corcoran & Systane, GingerBread Capital and more. More information here.
- Job Creators Quest Grants: Open to all business owners. The deadline to apply is February 4, 2023. More information here.
- Illinois Restaurant Association Educational Scholarship & Grant Application: One-time grants of $500 are available for employees of restaurants. More information here.
- Verizon Small Business Digital Ready: $10,000 grants are available to business owners registered and participating in Verizon’s Small Business Digital Ready platform. Applications are open through November 14, 2022. More informaiton here.
