This Notice of Funding Opportunity (NOFO) sets forth the requirement of the 2019 Department of Commerce and Economic Opportunity (DCEO) Minority-Owned Business Capital and Infrastructure Program. The Office of Minority Economic Empowerment’s (OMEE) newly created state funded capital and infrastructure program, as per Public Act 100-0586, aims to equip minority-owned firms with resources to create jobs, build scale and capacity, increase revenues, and expand regionally.
$10 million of the grant funding is available for minority-owned businesses
Capital access remains the most important factor limiting the establishment of minority-owned businesses. It also inhibits the ability of economic growth in minority and underserved communities. The goal is to ensure minority enterprises have an equal opportunity to contribute to the growth of Illinois’ economy and serve as an advocate for businesses, entrepreneurs and start-ups in traditionally economically-disadvantaged groups. Applicants are eligible for up to $500,000.
$5 million of the funding is available for incubators who serve or would like to serve minority-owned businesses
Business incubators provide support to increase survival for new start-ups to assist in growth during the start-up period when many businesses are vulnerable. Incubators can assist by providing space or capacity; networking and consulting opportunities; professional services and training; and, they can supply resources including research and development. Applicants are eligible for up to $250,000.
- Eligibility requirements for minority-owned businesses
- Eligibility requirements for incubators who serve or would like to serve minority-owned businesses
The deadline to apply is June 30, 2019. All applicants must be pre-qualified through the Grant Accountability and Transparency Act (GATA) Grantee Portal. Application is not a guarantee of funding.
Direct questions to: firstname.lastname@example.org
Thursday, May 9, 2019
10:00am - 11:00am
Mi Tierra Restaurant
2528 S. Kedzie Avenue
Chicago, IL 60623
Eventbrite link to register: https://nofo5919.eventbrite.com
Thursday, May 9, 2019|
12:30pm - 2:00pm
Markham City Hall
16313 Kedzie Parkway
Markham, IL 60428
Eventbrite link to register: https://nofo59mark.eventbrite.com