Running a Small Business Can be Hard... We Are Here to Help!
Looking for financial assistance to start or expand your business? The BDC can assist you!
Keep scrolling to learn about the financial resources currently available, from grants to loans for small businesses.
The BDC helps connect businesses with local, state, and federal grants as well as grants offered by trusted partners. Grants are financial programs tailored to specific needs such as payroll, equipment, overhead expenses, etc. If your business is awarded a grant, you receive a predetermined sum of money that does not require repayment.
Each grant has a unique application process, eligibility criteria, document requirements, and review procedure. Please review the details below carefully, and feel free to visit the program websites directly if you have any questions or need assistance with the application process.
For inquiries, please contact the Economic Development team at economicdevelopment@berwyn.net or call 708-788-8100.
Available Grants
Grants are financial programs tailored to specific needs such as payroll, equipment, overhead expenses, and more. If your business is awarded a grant, you receive a predetermined sum of money that does not require repayment. Each grant has a unique application process, eligibility criteria, document requirements, and review procedure.
Finish Line Grant
The Finish Line Grant (FLG) is one of the City of Berwyn’s Tax Increment Financing (TIF) incentive programs.
The FLG helps businesses and commercial property owners located in one of Berwyn’s three TIF by supporting 50% of interior and exterior renovation costs up to $50,000. To learn more about the Finish Line Grant, Click Here!
Upcoming Grant Deadlines
36Squared Boost Award
Description: All applicants must be Illinois residents with some type of disability that poses a challenge to their success in launching or growing a business. After applying, a small number of finalists will be invited to "pitch" their business idea in a short, taped interview. The final group of awardees will be invited to a June event in the 36Squared offices where they will be presented with their check.
Award Range: Up to $1,000
Deadline: Before 5pm on May 30, 2026
More Information: https://www.36business.org/boost-awards.html
Verizon Small Business Digital Ready Grant
Description: Complete two courses or in-person events on their Digital Ready platform between January 1, 2026 - December 7, 2026 to unlock the grant application. Once unlocked, you can apply once at any time to be considered for $10,000 grant. Finalists are selected monthly throughout the year.
Award Range: $10,000
Deadline: Grant applications are reviewed monthly from June through December 2026. If you are not selected in a particular month, your application will remain eligible for remaining selections throughout the year.
More Information: https://digitalready.verizonwireless.com/funding/details
Ongoing Grants
SomerCor Down Payment Assistance Program
Description: SomerCor's Down Payment Assistance Program (DPAP) helps small businesses in Cook County finance their first building purchase with a grant up to $25,000 to reduce upfront costs.
Award Range: Up to $25,000
More Information: https://somercor.com/dpap/
Small Certified Supplier Innovative Finance Program
Description: Unrestricted grant opportunity for certified minority, women, veteran, and LGBTQ+ owned businesses (certified by national or state organizations) in the following states California, Georgia, Kansas, Illinois, Michigan, Minnesota, New York, North Carolina, Ohio, Tennessee, Texas, Washington, Pennsylvania, or New Jersey. The annual revenue of the business should be between $250,000 to $10 million.
Award Range: $5,000
More Information: Supplier Innovative Finance Program
LeadCare Cook County Lead Service Line Replacement Program
Description: Supports a safe and healthy learning environment for children by offering free lead service line replacement to child care providers in suburban Cook County.
Award: Full coverage of the lead service line replacement cost
More Information: leadcareillinois.org/cookcounty/
Businesses Reducing Impact on the Environment (BRITE) Program
Description: Helps businesses reduce their environmental impact while creating a healthier environment for their employees, customers and community by offering on-site assessments to reduce pollution. Once an assessment has been completed, eligible businesses will have the opportunity to apply for grant funding. This funding will go towards solutions that save money, reduce impact on the environment and modernize operations. Available to dry-cleaning facilities, auto body or auto repair shops, metal finishers, metal fabricators, or food and beverage manufacturers in suburban Cook County.
Award: Up to $400,000
More Information: https://www.cookcountyil.gov/BRITE
IL Innovation Vouchers Program
Description: The IL Innovation Vouchers Program will provide grants for companies to engage in research projects in partnership with an Illinois institute of higher education. This will facilitate the sharing of technologies, knowledge, facilities, and equipment, and ultimately lead to the production of more Illinois-based goods and services and spur economic growth in the state.
Award: 75% of the cost of the research engagement (not to exceed $75,000)
More Information: Innovation Vouchers Program
Chicago-based Grants
Small Business Improvement Fund (SBIF)
Description: The City of Chicago’s Small Business Improvement Fund (SBIF) promotes economic development by providing small businesses and property owners with reimbursement grants for permanent building improvement costs. Residential projects are not eligible. The SBIF grant is funded by local Tax Increment Financing (TIF) revenue and is made available to business and property owners located in the SBIF-eligible TIF districts citywide. SomerCor is the proud administrator of the SBIF Grant on behalf of the Chicago Department of Planning and Development.
Award Range: Grant funds may be used to reimburse up to 90% of pre-approved construction costs, with a maximum reimbursement of $75,000 for multi-tenant properties, $150,000 for commercial properties, and $250,000 for industrial properties.
Deadline: April 30-December 30, 2026 depending on which TIF district your business is in
More Information: https://somercor.com/sbif/
Community Development Grant
Description: The City of Chicago helps support business and neighborhood vitality through Small, Medium, and Large Community Development Grant (CDG) awards. CDGs use proceeds from the 2024 Housing and Development Bond and other funding sources to support a variety of eligible, business-related investments that create and sustain jobs and improve the quality of life for local residents. Applications are open to business owners, property owners, non-profit organizations, community developers, and entrepreneurs.
Award Range: From small grants capped at $250,000 to large grants exceeding $5 million, support is available for projects of all sizes.
Deadline: For small and medium grants, apply by 11:59 pm on Aug. 14, 2026. Large grant applications are accepted on a rolling basis.
More Information: https://www.chicago.gov/city/en/sites/community-development-grant/home.html
Available Loans
Loans are financial programs designed for specific needs like payroll, equipment, overhead expenses, purchase of property, and more. If approved for a loan, your business receives a set amount of money that must be repaid with interest. Each loan has a unique application process, eligibility criteria, documentation requirements, and review procedure.
Republic Bank Express Loans
- Our Express Business Loan makes borrowing easy so you can focus on what matters most – your business.
- No hassles. No headaches. No kidding.
- This is business banking done right. Right now.
- Up to $250,000 in 24 Hours
- Lines of credit are also available.
BYLINE EXPRESS LOANS
- Qualified small businesses can receive rapid approval for working capital and equipment purchases, with loan approval not contingent on collateral.
- No financials are needed for loans under $150,000.
- As experienced SBA lenders, Byline Bank also offers SBA Express loans for applications that don’t qualify conventionally, with automatic decisioning through a single application.
For inquiries, please contact the Economic Development team at economicdevelopment@berwyn.net or call 708-788-8100.