Cook County extends application deadline for small business grants

The Cook County Bureau of Economic Development has extended the application window for the 2023 Source Grant by a week, to 11:59 p.m. Friday, Aug. 25.

The program will award $40 million in grants to thousands of small businesses in early 2024 with funds provided by the American Rescue Plan Act. Applicants can receive grants of $10,000 or $20,000, depending on the size of their business.

The extension comes as a result of a change in the required documentation needed to apply for the grant. Based on feedback from small businesses, the county has modified the grant application's 2022 tax submission requirement to assist businesses that have not yet filed their 2022 federal tax return.

Small businesses are eligible to apply if they have been operating in Cook County prior to 2020, have fewer than 20 full-time employees, and earned more than $20,000 in gross revenue while operating in 2019. The program will prioritize suburban Cook County business, businesses owned by veterans, and those businesses in sectors hardest hit by the COVID-19 pandemic.

To apply and learn more, visit cookcountysmallbiz.org/sourcegrant.