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 currently available financial resources 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 provided below carefully, and feel free to visit the direct websites for specific programs if you have any questions or require 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!
Explore More TIF Programs!
Commercial Corridor Renovation Grant
Similarly to the FLG, the Commercial Corridor Renovation Grant (CCRG) is funded by the City of Berwyn and aims to support 50% of exterior renovation costs up to $10,000.
Businesses and commercial property owners located along the 16th & 26th Street corridors may be eligible to receive this grant.
Learn More about the CCRG
Other Grant Programs
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
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 also available.
LEARN MORE
BYLINE EXPRESS LOANS
- Qualified small businesses can receive rapid approval for working capital and equipment purchases, with loan approval not contingent on collateral1.
- 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, through automatic decisioning with one single application.