CHICAGO – Illinois Senate Democrats recently joined the Illinois Department of Commerce and Economic Opportunity to announce $10 million in funding for the Office of Economic Equity and Empowerment Small Business Capital and Infrastructure Grant Program. This initiative aims to help small businesses achieve sustainable growth, improve efficiency, and create and retain jobs through capital improvements.

"Programs like the OE3 grant are critical because they prioritize equity and uplift businesses that have been left behind for far too long,” said State Senator Celina Villanueva (D-Chicago). “By providing these resources, we’re not just supporting businesses — we’re fostering economic empowerment and generational growth."

Grant funding can be used for eligible projects including planning, land and building acquisition, construction, site improvements, rolling stock and durable equipment. Qualified applicants include businesses owned by Socially Economically Disadvantaged Individuals with up to 25 employees and Very Small Businesses with fewer than 10 employees. Priority will be given to businesses in Community Development Financial Institution Investment Areas, especially those proposing projects that create jobs, boost economic growth, or enhance community engagement.

Grantees will be selected through a competitive Notice of Funding Opportunity process. Qualified entities can apply for grants from $10,000 to $245,000. Applications will be accepted until April 7, 2025, at 5 p.m.

"Every dollar invested in small businesses helps to create opportunities for families, neighborhoods and entire communities,” said State Senator Elgie Sims (D-Chicago). “This grant program is a tangible step toward addressing systemic disparities and ensuring all Illinoisans have a chance to succeed."

Illinois has made investing in small businesses a priority, particularly in response to the COVID-19 pandemic. The Back to Business and Business Interruption grant programs through DCEO provided more than $705 million in grant funding to small businesses in hard-hit industries. Additionally, the state revitalized Small Business Development Centers to expand access to community navigators and other resources designed to help aspiring entrepreneurs.

To view and apply for the grant, visit the DCEO website. Interested parties are encouraged to reach out to This email address is being protected from spambots. You need JavaScript enabled to view it. for application assistance. DCEO will be holding a technical assistance webinar on Feb. 4 at 11 a.m. Frequently asked questions in English and Spanish are available on the DCEO website.