Over 2,000 Chicago Businesses and Nonprofits Awarded Grant Funds
Small business and nonprofit community receive much needed financial relief and community-based business support organizations offer assistance engaging and activating commercial corridors
Mayor Lori E. Lightfoot and the Chicago Department of Business Affairs and Consumer Protection (BACP) announced over 2,000 small businesses and nonprofits have been awarded grants under the Chi Biz Strong Grant Program and Outdoor Dining Grant Program. The over $20 million programs will provide critical financial relief to grant recipients to assist in the recovery from the COVID-19 economic impact and to boost start-of-the-year operations. In addition, community-based business support organizations awarded grants under the $2.7 million COVID-19 Small Business Support Program (CSBS) continue to provide business owners and entrepreneurs with targeted assistance, expert training, and resources to help address common challenges brought on by the COVID-19 pandemic. These organizations provide support to small businesses by addressing the ever-evolving needs of Chicago’s business community during the ongoing period of pandemic recovery.
The Chi Biz Strong Grant Program and Outdoor Dining Grant Program help promote an equitable recovery from the COVID-19 pandemic by providing critical financial relief to small businesses and nonprofits across the city, in neighborhoods, and downtown. The Chi Biz Strong Grant Program awarded grants in the amount of either $5,000 or $10,000 to businesses and nonprofits across Chicago that have experienced revenue losses or expense increases related to the pandemic, depending on the business or nonprofit size. The Outdoor Dining Program awarded grants of $5,000 to small restaurants and bars to support the purchase of outdoor furniture, pandemic-related signage, and personal protective equipment. Collectively, these $20M programs have awarded over 2,000 small businesses and nonprofits in grants. These grant programs build upon the over $100 million in pandemic relief already distributed to small businesses by the City of Chicago – more than any other US city.
In conjunction with the Chi Biz Strong Grant Program and Outdoor Dining Grant Program, the COVID-19 Small Business Support Program (CSBS) leveraged the business development expertise and credibility of community-based business support organizations to connect local small businesses with vital resources to ensure they recover and thrive. The program funded a diverse range of initiatives, each tailored to the needs of the local community. These included funding for free advising, coaching, and language access for businesses impacted by the pandemic; activations and campaigns that encourage Chicago residents and visitors to support local businesses; and supporting outdoor activities and plazas. Through the program, grantees channeled resources to local businesses to further revitalize neighborhood commercial corridors.
Chicago’s small businesses are fundamental to the economic livelihood of countless residents. The COVID-19 Small Business Support Program (CSBS) program allowed nonprofits to assist small businesses in mitigating financial hardship, addressing the impacts of the pandemic, implementing COVID-19 prevention tactics, and establishing strategic business growth plans.
The CSBS program previews future strategic investments that will create an equitable economic recovery for Chicago’s business community as outlined in the Chicago Recovery Plan. The Chicago Recovery Plan will invest holistically in communities and industries hardest hit by the pandemic to support economic recovery across the City.
For 2022, to expand economic opportunity and catalyze growth in the hardest-hit neighborhoods and industries, $87 million will be allocated to support businesses and entrepreneurs, connect residents with jobs, and increase the vibrancy and safety of commercials corridors. Inclusion and access will continue to be among the most important priorities for aiding small businesses through recovery.