• Small Business Support: Funding Resources

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

    Looking for financial support? Need help starting or expanding your business? The BDC is here to help!
    Below is a list of financial resources currently available to Berwyn businesses.

    The BDC connects businesses with local, state, and federal grants. Grants are financial programs designed for a specific purpose, such as payroll, equipment, or recovery of loss. If a business is awarded a grant, the business is given a set sum of money that DOES NOT have to be paid back.

    Each grant has its own application, eligibility details, document requirements, and review process. Carefully read each description below and let us know if you have any questions!

    Have any questions? Need help applying? I’d love to connect!
    Contact Kendra at Kendras@berwyn.net or 708-749-6587.

     

  • Cook County Manufacturing Reinvented

    Application Details

    • Qualified applicants must be a manufacturer in suburban Cook County, outside the city of Chicago boundary and less than 500 employees.
    • To receive reimbursement, manufacturer must complete and implement project. Upon verification of project completion by IMEC, Cook County will reimburse the business for eligible expenses.
    • This program will prioritize manufacturers located in historically excluded communities to ensure an equitable distribution of resources.  Project awardees will be further prioritized based on business viability, potential economic impact, and total project investment.

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  • Additional Available Grants 

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  • The Back to Business program provides recovery grants for businesses in the hardest-hit industries. With $175 million available, eligible restaurants, hotels, and creative arts businesses are encouraged to apply! All applicants will receive a grant as long as they meet eligibility requirements and submit proper documentation required by the program.

    Applications will be open April 5 – May 10, 2023.

    Need assistance applying? Have any questions? Contact Paola at paolag@berwyn.net or (708) 749-6582 to schedule a one-on-one consultation.

    Informational Webinars:

     

    Restaurants

    Creative Arts

    Hotel

    Grant awards range from $5,000 to $50,000

    Eligible businesses include: Restaurants, taverns, bars, caterers, breweries, wineries, tasting rooms, taprooms, microbreweries, distilleries, food trucks, and street vendors.

    Grant awards range from $5,000 to $250,000

    Eligible businesses include: Performing and presenting arts organizations, theaters, museums, cultural heritage organizations, arts education organizations, and concert venues.

    Grant awards up to $1,500 per room

     


    Eligible businesses include: Hotels, motels, inns, and lodging sites.

    Eligibility Requirements:

    • Must be a for-profit or 501c non-profit located in Illinois.
    • Must have started operations before March 12, 2020.
    • Must have lost at least $5,000 due to the COVID-19 pandemic.
    • Must have 50 or fewer employees.
    • Must be in good standing with the Illinois Secretary of State.
    • Must NOT have received prior state funding from the Restaurant Revitalization Fund, Illinois Back to Business Grant, and Illinois Business Interruption Grant.

    Eligibility Requirements:

    • Must be a for-profit or 501c non-profit located in Illinois.
    • Must have started operations before March 12, 2020.
    • Must have lost at least $5,000 due to the COVID-19 pandemic.
    • Must be in good standing with the Illinois Secretary of State.

     

     

     

    Eligibility Requirements:

    • Must be a for-profit or 501c non-profit located in Illinois.
    • Must have started operations before March 12, 20202.
    • Must be in good standing with the Illinois Secretary of State.

     

     

     

     

    To apply for this grant, businesses will need the following: 

    • Business owner identification.
    • Business tax forms for 2019 (if in business), 2020, and 2021.
    • Current license to serve food and/or drink.


    Restaurants Eligibility Guidelines - (English | Spanish) 

    Restaurants FAQs - (English | Spanish)

    Restaurants Informational  Sheet - (English | Spanish)

     

    Learn More!

    To apply for this grant, businesses will need the following:

    • Business owner or non-profit leader identification.
    • Business tax forms for 2019 (if in business), 2020, and 2021.


    Creative Arts  Eligibility Guidelines - (English | Spanish) 

    Creative Arts FAQs - (English | Spanish)

    Creative Arts  Informational  Sheet - (English | Spanish)


    Learn More!

    To apply for this grant, businesses will need the following:

    • Business owner identification
    • Business tax forms for 2021

     

     

    Hotels Eligibility Guidelines - (English | Spanish) 

    Hotels FAQs - (English | Spanish)

    Hotels Informational Sheet - (English | Spanish)

     

     

     

    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!

     

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  • VERIZON SMALL BUSINESS DIGITAL READY GRANT - DEADLINE 5/12

    Now available online curriculum is designed to give small businesses tools to succeed in today’s digital world.  Learning modules can help your business thrive, with topics such as SEO, working remotely, and finance management. Learning modules, expert coaching, peer networking, and more.


    Register for a free online curriculum.  Complete two courses or one coaching event and then be eligible to apply for a Verizon Small Business Digital Ready $10,000 grant. To unlock the application for this exclusive pool of funding, members must have completed two courses or live coaching events by May 12th, 2023.


    Applications open on March 1, 2023, and close at 11:59pm PT on May 12, 2023. All applicants will be notified about whether they have been selected to receive grant funding by the week of May 18, 2023

     

    LEARN MORE

     

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  • ILLINOIS RESTAURANT EMPLOYEE RELIEF FUND – DEADLINE 5/08

    The Restaurant Employee Relief Fund is a program of the Illinois Restaurant Association Educational Foundation (IRAEF). We offer emergency assistance to Illinois food and beverage workers facing an unanticipated hardship within the past 90 days such as: accident, illness, injury, death of an immediate family member or natural disaster. The IRAEF Restaurant Employee Relief Fund grants are awarded to eligible individuals based on available funds and limited to one per individual. Grants cover costs of living expenses for life-altering events and range from $250-$3,000.

    Eligibility Requirements

    We will review all applicants currently employed in an Illinois foodservice establishment who have experienced a life-altering event over the last 90 days.

    Submit copies of all that apply as proof of hardship (some are required):

    • Rent or mortgage bill or statement
    • Bills; electric, gas, water/sewer, homeowners association or property tax statements
    • Documentation of illness or injury
    • Receipts for medical supplies or transportation for medical care
    • Verification documentation for funeral expenses, natural disaster, or housing emergency
    • Doctor verification or death certificate

     

    LEARN MORE

     

  • Finish Line Grant

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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.

     

    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.

     

    2023 applications due by December 15.

  • Updates From The Economic Development Department

    Be sure to stay up to date with all of the event, grants, loans, trainings, and more from the Berwyn Development Corporation with our weekly e-blast.

     

    View past weekly e-blast!

    - Jan 17th (VIEW)

    - Feb 7th (VIEW)

    - March 9th (VIEW)

     
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  • ACTUALIZACIONES DEL DEPARTAMENTO DE DESARROLLO ECONÓMICO


    Asegúrese de mantenerse actualizado con todos los eventos, subvenciones, préstamos, capacitaciones y más de la Corporación de Desarrollo de Berwyn con nuestro correo electrónico semanal.

    ¡Vea el e-blast semanal pasado!

    - 17 de Enero (VER)

    - 7 de Febrero (VER)