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Find similar grantsState Small Business Credit Initiative (SSBCI) is sponsored by Illinois Department of Commerce and Economic Opportunity (DCEO). Offers funding to support small businesses across Illinois, helping them attract capital investment and expand operations.
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State Small Business Credit Initiative SCAM ALERT: DCEO has been made aware of organizations receiving fraudulent “notice of award” letters claiming to be from the Illinois Department of Commerce and Economic Opportunity. These are not legitimate notices from DCEO. If your organization receives a notice, please report it to the Federal Trade Commission and/or the FBI’s Internet Crime Complaint Center .
State Small Business Credit Initiative On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which provided $10 billion to fund the State Small Business Credit Initiative (SSBCI 2. 0). This builds on the initial State Small Business Credit Initiative (SSBCI 1.
0), through which Illinois received over $78 million for the Advantage Illinois Participation Loan Program (PLP). Illinois will receive up to $354. 6 Million to administer four programs as part of the State Small Business Credit Initiative.
The expanded program offerings through SSBCI will enable Illinois to support small businesses across the state - helping them attract more capital investment and expand or launch business operations while supporting key sectors. The Illinois Department of Commerce and Economic Opportunity (DCEO) is the implementing entity for Illinois’ SSBCI funding.
DCEO will directly administer the Advantage Illinois loan programs and INVENT venture capital program and will have oversight of the Illinois Finance Authority’s (IFA) Climate Bank Finance loan program.
Advantage Illinois (AI) Participation Loan Program (Existing Program) Advantage Illinois' existing Participation Loan Program (PLP) provides low-interest loans to small businesses by partnering with local lenders located across the state. In 2022, 71 percent of AI loans went to businesses owned by people of color, women, people with disabilities, or veterans.
Advantage Illinois (AI) Loan Guarantee Program (New Program) Advantage Illinois' new Loan Guarantee Program (LGP) will support business applicants who are having difficulty obtaining access to capital by using funds to guarantee a percentage of loans provided by partner lenders.
INVENT Venture Capital Program (VCP) (New Program) The Innovation Venture Fund (INVENT) will operate as a direct equity investment program, investing in early- and late-stage businesses with a focus on underserved start-ups facing systemic barriers and key industries such as agriculture, energy, information technology, life sciences, manufacturing, quantum information sciences and technology, and transportation.
Climate Bank Finance Participation Loan Program (New Program) This new program will be overseen by DCEO and administered by the Illinois Finance Authority (IFA), which will partner with local lenders to issue the loans.
As Illinois’ officially designated “Climate Bank”, IFA will be exclusively focusing on providing its SSBCI-supported financing for the start-up and/or expansion of ventures directly involving environmentally-supportive, “green” businesses, including those that address the adverse impacts of climate change. Connect with a DCEO Representative Locate Your Business In IL Start Your Business in IL
Based on current listing details, eligibility includes: Small businesses in Illinois seeking capital investment and expansion support. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Up to $354.6 million Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.
Land & Building Acquisition NOFO (FY26) is sponsored by Illinois Department of Commerce and Economic Opportunity (DCEO). This initiative provides funding for capital improvements in Illinois for the State Fiscal Year 2026. It supports projects outlined in the annual appropriation bill, ensuring effective use of state resources to enhance community infrastructure and services.
SBIR/STTR Phase I Matching Grant Program (Illinois) is sponsored by Illinois Department of Commerce and Economic Opportunity (DCEO). This non-competitive matching grant program supports Illinois-based small businesses that have received a federal SBIR or STTR Phase I award. The program provides state funds to help recipients complete their Phase I work, accelerate commercialization, and prepare a competitive Phase II proposal.
The purpose of this FOA is to provide funding for up to four (4) Tribal Colleges and Universities (TCUs) that will provide entrepreneurial development services to Native American communities, focusing on supplying services to socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing SBA resources. Eligible applicants must be Tribal Colleges and Universities as defined in the Higher Education Act HEA 316 (U.S.C. 1059c). Funding Opportunity Number: SB-GC7J-23-002. Assistance Listing: 59.007. Funding Instrument: G. Category: BC,ED. Award Amount: Up to $250K per award.
The purpose of this FOA is to provide funding for up to two (2) private, non-profit organizations that will provide entrepreneurial development services to women, with an emphasis on socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing WBCs for the District of Columbia (DC) and the State of Oregon. There will be one award for each location. Eligible applicants must be private, non-profit organizations with 501(c) tax exempt status from the U.S. Treasury’s Internal Revenue Service and must provide services to the District of Columbia (DC) and State of Oregon. Funding Opportunity Number: SB-OEDWB-23-002. Assistance Listing: 59.043. Funding Instrument: G. Category: BC,CD,RD. Award Amount: $75K – $150K per award.
Small Business Innovation Research and Small Business Technology Transfer Programs Phase I is sponsored by U.S. Department of Agriculture (USDA) National Institute of Food and Agriculture (NIFA). The USDA SBIR/STTR programs support small businesses in creating innovative, disruptive technologies with commercial potential or societal benefit, including projects dealing with agriculturally-related manufacturing and alternative and renewable energy technologies. Specialty tubing could be relevant for agricultural equipment or renewable energy systems.