The City of Springfield is announcing a business assistance program through cannabis sales tax revenue. This is available for new and existing businesses with at least 51% minority ownership.
Donor Name: City of Springfield
State: Illinois
City: Springfield
Type of Grant: Grant
Deadline (mm/dd/yyyy): 02/28/2022
Size of the Grant: $100,000
Details:
The goal of the program is to promote business retention and expansion of Minority-Owned Businesses.
Money awarded for the project is to be used for specific items including:
- Equipment
- Land acquisition
- Inventory purchase
- New construction or renovation
- Labor costs with prevailing wage
Funding Information
This grant program will provide up to $100,000 of assistance to certified Minority-Owned Businesses with a 10% match requirement.
Eligibility Criteria
To qualify for this grant, the resident must reside in the area bounded by Carpenter Street on the north, Ash Street on the south, Dirksen Parkway on the east, and 10th Street rail corridor on the west, and live within the City corporate limits.
- The business must be 51% minority-owned.
- The business must pay 10% of the entire project cost.
- Taxes must be current and up-to-date.
- No outstanding debt to the City of Springfield including parking tickets, CWLP bill payment, etc.
- If approved for the grant program, every person listed on the deed of the business must sign off on the agreement.
For more information, visit Cannabis Business Grant.
