The Cook County Bureau of Economic Development has launched grant program to support community financial institutions (CFIs) and increase available financing for small businesses.
Donor Name: Cook County Bureau of Economic Development
State: Illinois
County: Cook County (IL)
Type of Grant: Grant
Deadline: 07/25/2025
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
The Cook County Community Financial Institution Capacity Building Grant program will increase the capacity of selected CFIs to deploy resources supporting small businesses and strengthen the County’s small business ecosystem as a whole.
Funding Information
$1.4 million.
Uses of Fund
Grantees must use the grant award for the purposes of:
- Improving their financial capacity (e.g., funding loans) to lend more money to regional small businesses
- Improving their operational capacity (e.g., hiring staff, technological investments) to better support regional small businesses.
Eligibility Criteria
- Eligible organizations include:
- Certified Development Corporations (CDCs)
- Community Development Financial Institutions (CDFIs)
- Minority Depository Institutions (MDIs)
- Small Business Administration (SBA) microlenders
- Other nonprofit lending organizations
- Applicants must:
- Be a nonprofit entity
- Have at least two years of lending experience
- Seek to begin or expand small business lending within Cook County
- Be in good standing with all relevant regulatory bodies.
For more information, visit Cook County.
