NEW GRANT PROGRAM HELPS ENTREPRENEURS OF COLOR, WOMEN, LGBTQ+, VETERANS AND PEOPLE WITH DISABILITIES

Cook County President Toni Preckwinkle announced the launch of the Source Grow Grant on Thuursday, Sept. 29, at Lalo’s on Maxwell. PHOTO PROVIDED BY RISE STRATEGY GROUP.
Cook County President Toni Preckwinkle announced the launch of the Source Grow Grant on Thuursday, Sept. 29, at Lalo’s on Maxwell. PHOTO PROVIDED BY RISE STRATEGY GROUP.

 New Grant Program helps entrepreneurs of color, women, LGBTQ+, veterans and people with disabilities

BY TIA CAROL JONES
The Source Grow Grant prioritizes sectors that were heavily impacted by the COVID-19 pandemic – hospitality, food service, arts and entertainment, retail trade, transportation, warehousing,
childcare and social assistance, as well as accommodations. The hope is the grant money and business advising to people in these sectors from these communities will help close the racial wealth
and opportunity gap. The funds for the Source Grow Grant were provided by the American Rescue Plan Act.

Cook County Commissioner Kevin B. Morrison, D-Dist. 15, expressed how thrilled he was to see a grant program like the Source Grow Grant launched by Cook County through its Cook County Small Business Source.

“As we saw during the first two years of the COVID-19 pandemic, grants like this allow small mom and pop shops to keep their doors open. I know $10,000 grants like this will be a gamechanger for our small businesses,” he said.

Yvonne Barrett, Owner of Akhi Rah Tailoring, is hopeful this grant program will help businesses like hers close the racial wealth gap, by employing more people, especially those who live in the communities where the businesses are located.

“This money will help Cook County Veterans build and grow their small businesses by providing finance, marketing, mentorship, as well as assistance with grant applications. Empowering our Veterans and offering support is the key to making a better
Cook County for everyone,” said Tanya Anthony, Chief of Cook County Bureau of Administration.

Xochitl Flores, Bureau Chief of Economic Development, talked about the collaboration it took to develop the Source Grow Grant, as well as the work of the partners to launch the grant.

“Internally, it has taken a village. We’re restrengthening the connective tissue between all of our agencies and small
business owners. Our collective efforts are making it easier for
businesses to grow and thrive in this County,” Flores said, adding
the Source Grow Grant would advance equity and grow the
regional economy.

The impact of $71 million for the Source Grow Grant and the $10,000 awarded to small business owners are lifechanging, to the families of the business owners and the communities where the businesses are located.

“Cook County’s small businesses faced unprecedented challenges during the pandemic, and the Source Grow Grant program is key to helping them scale and thrive,” Cook County Board President Toni Preckwinkle said in a release. “I’m proud that this program will provide not only the funds they need but also the business coaching that is critical to sustainable growth.”

Applications for the grant opened on Monday, Oct. 3rd, and
will be accepted through Monday, Oct. 31st. Applications will be
reviewed in November and the anticipation is that businesses will
be notified in early January of 2023.

For more information about the Source Grow Grant and to apply, visit www.CookCountySmallBiz.org/Grow- Grant.

Latest Stories

Latest Podcast

Things That You Should Know That Your Agent Knows...