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
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
EmpowHer Grant
Description: EmpowHer grant supports female entrepreneurs 22 years of age and older with businesses registered and operating solely in the United States. An applicant’s business must make a social impact through its product or business model, be earning revenue, and not be more than five years old.
Award Range: Up to $50,000
Deadline: Grant cycles run from May 1st to November 1st
More Information: https://boundlessfutures.org/our-impact/#grants
Credibly Small Business Award
Description: The Credibly Small Business Award celebrates passionate business owenrs who are making an impact in their communities. Exceptional small businesses are awarded each year with funding to accelerate their growth.
Award Range: Up to $30,000
Deadline: September 30th
More Information: www.credibly.com/small-business-award/
Ongoing Grants
America's Seed Fund powered by the National Science Foundation (NSF)
Description: America’s Seed Fund powered by the National Science Foundation (NSF) supports early-stage U.S. startups developing innovative, science- or engineering-based technologies with strong potential for commercial and societal impact. Eligible small businesses, typically with fewer than five employees and focused on research and development, can receive up to $2 million in non-dilutive funding, along with expert guidance, while retaining full ownership of their company and intellectual property.
Award Range: Up to $2 million
More Information: https://seedfund.nsf.gov/our-program/
The Awesome Foundation
Description: The Awesome Foundation provides $1,000 no-strings-attached grants to individuals and groups with creative, impactful, or “awesome” project ideas. Open to applicants worldwide, the program welcomes a wide range of initiatives, from community projects to artistic, social, and innovative concepts, without taking equity or ownership. Through its global network of local chapters, grants are awarded monthly to help bring unique ideas to life.
Award Range: $1,000
More Information: https://www.awesomefoundation.org/en
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: https://foundersfirstcapitalpartners.com/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: https://dceo.illinois.gov/whyillinois/innovation-vouchers.html
Wish Local Empowerment Program
Description: The Wish Local Empowerment Program provides grants to Black-owned small businesses to support growth, operations, and community impact. Businesses can apply throughout the year as applications are accepted on a rolling basis.
Award: $500–$2,000
More Information: https://wishlocalempowerment.org/
Binc Foundation Emergency Financial Assistance
Description: The Binc Foundation provides emergency financial assistance to bookstore owners, booksellers, comic store owners, and comic store employees experiencing unexpected financial hardship. Assistance is available for qualifying emergencies such as medical expenses, housing instability, natural disasters, and other unforeseen crises.
Award: Varies based on demonstrated financial need
More Information: https://www.bincfoundation.org/apply/
Comed Small-Medium Business Customer Relief Fund
Description: This grant is intentionally designed to support small and medium-sized businesses (SMBs) customers by offering one-time matching grants up to $500 to help offset a past-due bill balances and improve financial stability.
Award: Up to $500
More Information: https://www.comed.com/my-account/customer-support/payment-assistance/SMBcustomer-relief-fund
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.