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The 2024 Office of Economic Equity & Empowerment (“OE3”) Small Business Capital and Infrastructure Grant Program builds upon the success of the 2020 Capital Grant Program. Based on the immense need for assistance for businesses of all sizes and types and the Administration’s commitment to equity, this program is designed to help small businesses strengthen their operations, overcome financial challenges, and continue contributing to their communities and Illinois' economy. This funding opportunity is designed to support businesses owned by socially and economically disadvantaged individuals (SEDI) or very small businesses (VSBs) by providing financial assistance for capital improvement projects that will drive business growth, enhance operational efficiency, promote sustainability, and support job creation and retention.

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Public Act 100-0586 Section 140

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The Capital Grant Program is designed to empower small businesses across Illinois by providing funding for essential infrastructure improvements, facility expansions, and property acquisitions. By prioritizing underserved and economically disadvantaged communities, the program supports projects that enhance operational efficiency, promote sustainability, and increase accessibility. These grants enable businesses to modernize their operations through upgrades in technology, equipment, and processes, helping to drive growth and long-term resilience. With a commitment to equity, the program specifically aids SEDI-owned businesses and Very Small Businesses (VSBs) to foster job creation, economic revitalization, and community engagement—particularly in underserved areas where creating and retaining jobs strengthens local economies. Additional priority will be given to businesses located in Community Development Financial Institution (CDFI) Investment Areas, recognizing their unique role in addressing local economic needs. To ensure sustainable impact, the program requires performance tracking over 24 months to measure the outcomes of funded projects. The Capital Grant Program reaffirms the Department’s dedication to advancing equitable access to resources, enabling Illinois businesses to strengthen their communities and contribute to the state’s economic vitality.

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Information about the Program Specific Terms and requirements can be found within the Notice of Funding Opportunity (NOFO).

Small Businesses; For-Profit Organizations; Individuals;

Businesses owned by Socially Economically Disadvantaged Individuals (SEDI) with a maximum of 25 full-time permanent employees Very Small Businesses (VSBs), businesses with less than 10 employees

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Project Grants

Economic Development

Uniform Grant Application, Uniform Budget, Conflict of Interest Disclosure, Mandatory Disclosures, Program Application, and any other required supplemental documentation to support project.

An entity must be registered in the Grant Accountability and Transparency Act (GATA) Grantee Portal, https://grants.illinois.gov/portal/, at the time of grant application. All applications must be submitted by the deadline specified in the Notice of Funding Opportunity Supplement. All applications must be received by the deadline to be considered for review and funding.

A standard application package must be submitted and reviewed by the Department. Application materials must be submitted to the Department via a Smartsheet application platform, URL will be available at the time of application release.

Applications will be graded using the Merit Review Process and scored on the criteria specified in the Review and Selection criteria of the NOFO. Businesses located in Community Development Financial Institution (CDFI) Investment Areas will be prioritized. DCEO may take into account geographic distribution, in addition to applicant score, when making award determinations.

A merit-based review will be used to evaluate grantees. Each applicant will then be ranked, and awards will be recommended according to project ranking and available funding. Successful applicants will receive a Notice of State Award (NOSA) to initiate the grant agreement phase. Funds will be disbursed on a reimbursement basis.

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The Merit Based Review process is subject to appeal. However, competitive grant appeals are limited to the evaluation process. Evaluation scores may not be protested. Only the evaluation process is subject to appeal. The appeal must be submitted in writing to the Department within 14 calendar days after the date that the grant award notice has been published. The written appeal shall include the name and address of the appealing party, the identification of the grant and a statement of reasons for the appeal. To file an appeal, applicants must submit the appeal in writing and in accordance with the Merit-Based Application Review Appeals Process listed on the Grant Opportunities page of the DCEO website: https://www2.illinois.gov/dceo/AboutDCEO/GrantOpportunities/Pages/MeritAppReview.aspx.

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Funds can be used for bondable requirements as outlined in 30 ILCS 420 for funding eligible projects. - Architectural Planning and Engineering Design - Site Selection and Land Acquisition - Building Acquisition - Demolition - Site Preparation and Improvements - Utility Work - New Construction of Buildings and Structures - Reconstruction or Improvement of Existing Buildings or Structures - Original Furnishings and Durable Equipment - Asset Replacement - Expansion of Existing Buildings or Facilities

Quarterly financial and performance reporting is required via a PFR and PPR. Grant recipients will also be required to submit a quarterly report via Smartsheet. This reporting period begins when the grant funds are dispersed and ends when the project is closed out. Once the project is closed out, grantees will also be required to submit a semi-annual report via Smartsheet. This reporting period lasts two years.

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972-42045-4900-0020

$10,000,000.00

$10,000 - $245,000.00

Since its inception, the OE3 Capital Grant Program has contributed significantly to economic growth, with over 150 jobs created or retained by 2024. These investments have empowered small businesses to grow and fostered local economic development across Illinois.

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500 East Monroe Springfield, IL 62701 and 555 W Monroe St, 12th Floor Chicago, IL 60661

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OMEE Minority-Owned Business Capital & Infrastructure Grant Program

Funded projects have included: Day Cares, Manufacturing Companies, Construction Companies, Bakeries, Restaurants, Educational Services, Stores, Incubators, etc.

5/1/2021

FY 2019 : $10,000,000
FY 2023 : $18,000,000
FY 2025 : $10,000,000