Not to be outdone, another hard-core racist politician, Preckwinkle, has no problem.....

 

 

hard-core hater

Toni Preckwinkle Xochitl Flores  Cook County Board President Bureau Chief, Economic Development

Small Business Agenda: The Source Grow Grant

Bureau of Economic

Development September 2022

Bureau of Economic Development Small Business Agenda

The Source Grow Grant: Overview September 2022

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The Source Grow Grant Overview

Grant

$25.5M Program

$10,000 Grants

<20 employees

Business Advising Services

Find a trusted advisor with a “best-in-class” business support organizations

Access no cost expert guidance and coaching

Maximize the potential of your grant

Key Dates

Grant application period October 3, 2022, through October 31, 2022.

Applicants will be notified of their status application status in January 2023.

Businesses receiving grants will receive their payment 6-8 weeks later.

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The Source Grow Grant: Our Ambitions + Program Overview

Our Ambitions

Cook County envisions a grant program that provides capital integrated with business advising to historically excluded businesses – Black-, Latino(a)-, and other People of Color, Women-, Veterans-, LGBQR+, and Persons with a Disability-owned businesses – to close racial wealth and other opportunity gaps.

The program will support businesses in sectors hardest hit to foster their recovery and resiliency from the pandemic, scale their operations, and thrive in Cook County.

We strive to support these businesses at a rate higher than their representation within the Cook County population.

Note: * Includes $500K in grant funding that will be made available by the Cook County Department of Veteran Affairs

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The Source Grow Grant: Eligibility and Priority Groups

Who is eligible?

Who is a Priority?

Business Owner Demographics

Geography

Industries hard hit-by COVID

Size of Business

Legal Entity Business Size

Negative COVID impact

Use of Funds

For-Profit businesses started prior to 2020 located in Cook County

Less than 20 Full-time employees

Businesses with decreased revenue and/or increased costs due to COVID

Business-related expenses

People of Color, Women, Veterans, LGBTQ+, and Person(s) with a Disability

Businesses located in Suburban Cook County

Hospitality, Food Service, & Accommodations, Childcare, Arts & Entertainment, Retail, and Transport. & Warehousing

Businesses with fewer than 10 employees

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The Source Grow Grant: Robust 40+ Partner Network Business Support Organizations provide small businesses with the 1:1 advising they need to succeed.

Referral Partners serve as program ambassadors connecting small businesses to advising, support and resources. 18th Street Development Corp (Economic Strategies Development Corporation) 36Squared Incubator Arts Alliance Illinois Chamber57 Chicago Heights Economic Development Corporation Chicago Southland Chamber of Commerce Chicago Southland Economic Development Corporation Cook County Department of Veteran Affairs Des Plaines Chamber of Commerce Elgin Area Chamber of Commerce Far South Community Development Corporation • Greater Englewood Chamber of Commerce • Greenwood Archer Capital • Ignite Technology and Innovation • IL Action for Children • Illinois Business Immigration Coalition • Illinois Minority Business Development Agency (IL MBDA) Business Center • Indo-American Center • Melrose Park Chamber of Commerce • Native American Chamber of Commerce • Northwest Hispanic Chamber of Commerce • Polish American Chamber of Commerce • Puerto Rican Cultural Center • Rogers Park Business Alliance • Schaumburg Business Association • SomerCor • South East Chicago Commission • South Shore Chamber of Commerce • Southland Black Chamber of Commerce • Southwest Collective • West Town Chicago Chamber of Commerce • West Suburban Chamber of Commerce & Industry • Westside United

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The Source Grow Grant: Scenarios for The Source Grow Grant

Business Owner Demographics	Black Veteran Man	White Man	Black, Latina Woman	White Man with a Disability	White Woman
Geography	Southern Suburbs	Southern Suburbs	City of Chicago	Northern Suburbs	City of Chicago
Sector	Independent Artist	Restaurant	Child Care Center	Retail Store	Professional Services
Size of Business	Sole Proprietor	19 employees	5 employees	15 employees	25 employees
Priority groups qualified for grant selection	Black-owned businesses Veteran-owned businesses Businesses located in Suburban Cook Arts & Entertainment industry Microbusinesses	• Businesses located in Suburban Cook • Food Service industry	Black-owned businesses Latino(a)-owned businesses Women-owned businesses Childcare industry Microbusinesses	Businesses owned by persons with disabilities Businesses located in Suburban Cook Retail industry	N/A – business is ineligible as number of full-time employees is > than 20.

Example Selection Scenarios for The Source Grow Grant

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The Source Grow Grant: Upcoming Events and Support

• Friday, September 30 at 11:30am hosted by the Illinois Hispanic Chamber of Commerce (virtual)

• Monday, October 3 at 8:15am hosted by the Illinois Restaurant Association (in-person at 33 W. Monroe,

  Suite 250)

• Monday, October 3 at 11:00am hosted by the Women’s Business Development Center (virtual)

• Tuesday, October 4 at 8:15am hosted by the Illinois Restaurant Association (in-person at 33 W. Monroe, Suite 250)

• Wednesday, October 5 at 10am hosted by the Chicago Urban League (in-person at 3521 South King Drive

• Daily Virtual Drop-In Help Sessions on Monday, Tuesday, Thursday and Friday

• Weekly In Person Drop-In Help Sessions on Wednesdays at Bureau of Economic Development, 69 West Washington, 29th Floor

• Visit cookcountysmallbiz.org/growgrant for a complete list and calendar of events

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The Source Grow Grant: Call to Action

We note a few ways for how you and your staff can support The Source Grow Grant

1. Spread the word: Use the forthcoming digital marketing toolkit to share information about the program to your networks.

2. Refer businesses for application support: Encourage small business owners to sign up for application support via The Small Business Source at cookcountysmallbiz.org

3. Host your own event: Set up an event to raise awareness for the program and share event information so that we can add it to our events calendar. Let BED know and we will provide support.

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Program Update September 2022

Public Launch September 14 11

Program Overview & Goals The Cook County Promise Guaranteed Income Pilot will provide no-strings-attached $500 monthly cash payments to 3,250 Cook County residents for 24 months. The County will open participant applications in October 2022, with first payments beginning in December 2022. The program aims to: ●  Help participants recover from economic impacts of COVID-19, achieve financial stability, and improve economic mobility ●  Improve participants’ mental and physical health ●  Understand how guaranteed income impacts the community, including local small businesses and organizations ●  Understand how guaranteed income may uniquely impact suburban populations ●  Help Cook County build the long-term systems and infrastructure necessary to run a permanent Guaranteed Income Program 12

Cook County Promise Pilot Eligibility ●  Resident of Cook County ●  Over the age of 18 ●  At or below 250% FPL ●  Not participating in other guaranteed income pilots, including Chicago’s or Evanston’s An estimated 36% of all households in Cook County are eligible for the Promise Pilot 13 Federal Poverty Guidelines Household/ Family Size 250% FPL 1 $33,975 2 $45,775 3 $57,575 4 $69,375 5 $81,175 6 $92,975 7 $104,775 8 $116,575 *For each additional member over 8, add $11,800

Program Timeline Design Program Jul Aug Sept Oct Nov Dec Mobilization and Outreach Application Period Enrollment & Benefits Counseling Payment 9/14: Public Launch 10/21: 10/6: Application Closes Application Opens 12/15: First Payments Issued 14

Outreach & In-Person Application Assistance Partner Map

Northwest Compass Indo-American Center Housing Forward Spanish Coalition for Housing * Enlisting CBO support on South and West sides of Chicago Respond Now Next Move Respond Now & Next Move 15

In-Person Application Assistance Details Outreach Partner Application Assistance Location(s) In-Person Application Assistance Schedule Walk-In or By Appointment? Languages Spoken IAC 6328 N California Ave Chicago IL 60659 Monday-Thursday 10am-3pm Walk in; it's part of the regular services offered by their public benefits department English, Hindu, Urdu, Gujarati, and Arabic Respond Now 1439 Emerald Ave. Chicago Heights, IL 60411 Monday-Friday; 10am-4pm By Appointment; Applicant calls the designated number provided on outreach materials. Any walk-in applicants can also schedule an in-person appointment. English, Spanish Spanish Coalition for Housing See In-Person Assistance Events Schedule. See In-Person Assistance Events Schedule. See In-Person Assistance Events Schedul e. English, Spanish Northwest Compass 1300 W Northwest Hwy Mt Prospect IL 60056 Monday-Thursday: 9am-4pm Friday: 9am-12pm Extended hours 10/17 and 10/21 Walk in or call 8474838602 for an appointment English, Spanish, Bulgarian, Polish, Russian Next Move To be announced when office space is available. Monday-Thursday: 9am-8pm Friday: 9am-5pm Saturday/Sunday: 9am-1pm Walk in or call 7082328029 or email info@nextcmovecom munity.org to schedule an appointment English, Spanish Housing Forward Housing Forward 1851 2. 9th Ave. Maywood, Il 60153 (by appointment) Mon-Fri 10am-3:30pm Appointments by signing up through Eventbrite English, Spanish, translations for others 16

How can you help?   Spread the word!   Outreach Toolkit has fliers, social media posts, etc.   Reference 9/26 email from Xochitl Flores for more information   Share with local organizations that would be interested in getting the word out and helping residents apply, so they can sign up to attend our 9/28 webinar for CBOs on application assistance   Drive interested parties to www.engagecookcounty.com/promise and encourge them to sign up for the e-mail list 17

BED ARPA Launches through October 2022

	Program Name	Year 1	Years 1-3
Expanded with ARPA	Building Capacity in the Southland ​	$ 1,000,000	$ 2,000,000
	Cook County Legal Aid for Housing and Debt​	$ 7,200,000	$ 19,790,000
	Hotel-Based Sheltering​	$ 2,466,667	$ 7,400,000
	Capacity-Building Investments in Food Access Sites	$ 300,000	$ 2,000,000
	Community Conservation Corps	$ 1,292,000	$ 3,875,000
	Investing in Families & Youth	$ 5,000,000	$ 15,000,000
April	Suburban Cook County Travel, Tourism and Hospitality Economic Recovery Initiative	$ 5,000,000	$ 10,000,000
May	Small Business Source	$ 6,050,000	$ 15,700,000
June	Southland Metals Hub​	$ 300,000	$ 925,000
Aug.	Manufacturing Reinvented	$ 1,800,000	$ 5,000,000
October	Small Business Source Grow Grant Program	$ 30,000,000	$ 70,000,000
	Guaranteed Income - Cook County Promise	$ 5,000,000	$ 42,000,000
	Transforming Places (incl $15M from the Equity Fund)	$ 500,000	$ 15,500,000

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