• Small Business Support: Funding Sources

  • Running a Small Business Can be Hard... We Are Here to Help!

    Looking for financial assistance to start or expand your business? The BDC can assist you!

    Keep scrolling to learn about currently available financial resources from grants to loans for small businesses.

    The BDC helps connect businesses with local, state, and federal grants as well as grants offered by trusted partners. Grants are financial programs tailored to specific needs such as payroll, equipment, overhead expenses, etc. If your business is awarded a grant, you receive a predetermined sum of money that does not require repayment.

    Each grant has a unique application process, eligibility criteria, document requirements, and review procedure. Please review the details provided below carefully, and feel free to visit the direct websites for specific programs if you have any questions or require assistance with the application process.

    For inquiries, please contact Paola at paolag@berwyn.net or call 708-749-6582.‚Äč


     

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  • Finish Line Grant

    Roosevelt, Depot, or Harlem/Cermak TIF Districts

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  • Looking to replace your awning or renovate your building? You may be eligible for the BDC’s Finish Line Grant. This grant program assists businesses and property owners with interior and exterior renovation costs, such as awnings, façade improvements, rodent abatement, and buildouts.

    If your business or commercial property is located within one of Berwyn’s active TIF Districts, you may be eligible to receive up to 50% reimbursement on your renovation expenses. 

    Funding will be calculated as a percentage of the total project cost and will be committed to businesses on a first-come, first-serve basis, with a maximum grant amount of $50,000.00.

    To be eligible, you must:

    • Be located in the Roosevelt, Depot, or Harlem/Cermak TIF Districts.
    • Submit a completed application BEFORE the renovation project starts.

     

    2024 APPLICATION DEADLINE: DECEMBER 13, 2024.

  • ONGOING GRANT PROGRAMS

  • BRITE Grants now available!


    Examples of projects the BRITE Grant covers include:

     
    - Upgrading equipment to newer models to eliminate toxics
    - Helping pay for waste reduction trainings 
    - Purchasing and installing equipment that conserves energy and water 

    Details: www.cookcountyil.gov/BRITE

     

  • IL INNOVATION VOUCHERS PROGRAM

    The IL Innovation Vouchers Program will provide grants for companies to engage in research projects in partnership with an Illinois institute of higher education. This will facilitate the sharing of technologies, knowledge, facilities, and equipment, and ultimately lead to the production of more Illinois-based goods and services and spur economic growth in the state. 

    LEARN MORE!


     

  • Non-Grant Funding Sources

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  • Great for: Flexible financing that’s ready when you are.
     
    • Amounts range from $100,000 to $1,000,000. 
    • Make large purchases, like equipment, with your financing already approved.
    • Initial draw period of 6 or 12 months, with no interest until you use funds.

    LEARN MORE


     

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  • BYLINE EXPRESS LOANS

    Qualified small businesses can receive rapid approval for working capital and equipment purchases, with loan approval not contingent on collateral1. And, no financials are needed for loans under $150,000.


    As experienced SBA lenders, Byline Bank also offers SBA Express loans for applications that don’t qualify conventionally, through automatic decisioning with one single application.

    LEARN MORE


     

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  • Express Business Loans & Lines of Credit

     

    Up to $250,000 in 24 Hours

    • Our Express Business Loan makes borrowing easy so you can focus on what matters most – your business.
    • No hassles. No headaches. No kidding.
    • This is business banking done right. Right now.

    Not ready to apply online? Want to learn more? republicebank.com/business/business-express-loans/

    Have a Business Banking expert call you back.

    Get Started!