Ever heard of revenue-based financing? Or wondered what happens after your business gets certified? This month, we're answering the questions that actually move the needle. Inside: Catalyst Grant winners, capital strategies, licensing clarity, emerging funding programs and events designed to turn opportunities into action. | | Announcing the Recipients of the Catalyst Grant: $9.2 Million Distributed to 92 Businesses | | The Cook County Small Business Source is pleased to announce the 92 recipients of the Catalyst Grant, each receiving $100,000 to fuel their next phase of growth. | This investment accelerates growth-stage businesses earning $500,000–$10 million annually. The awardees—from insurance agencies and law firms to solar installers, architects and manufacturers—average 16 full-time employees and $2.8 million in annual revenue. They'll use their grants to hire and train staff, expand facilities, or invest in equipment that drives growth. | |
"My team and I are excited to strengthen our sales and marketing engine through strategic hires and expanded capacity,” said Dusty Folwarczny, owner of Ink Factory Studio, a creative services business located in the Avondale community in Chicago and a Catalyst Grant awardee. “This investment will help us reach more organizations and continue building a sustainable and creative business in Chicago."
Learn more: View the full Catalyst Grant awardee list and stay tuned for upcoming business features from select awardees.
| Financial Foundations: Your Path to Capital | |
Accessing the capital your business needs doesn't have to be complicated. The Source is here to guide you every step of the way.
-
Connect with an advisor who understands your business. Sign up for no-cost business advising through The Source and you'll be paired with an advisor at one of our Business Support Organizations (BSOs). They'll work with you to build the skills and confidence you need to feel truly capital-ready.
-
Find financing that works for you. Our Community Financial Institutions (CFIs) are ready to listen and help. They offer competitive rates, personalized support and flexible solutions tailored to your business—with loan amounts ranging from $1,000 to $500,000.
Ready to take the next step? Get started with no-cost business advising today and discover how we can help your business grow.
| Revenue-Based Financing: Join Allies for Community Business to Learn More | |
Revenue-based financing (also called a merchant cash advance) is a flexible funding model where businesses receive upfront capital and repay it through a fixed percentage of future revenue. Unlike traditional loans with set monthly payments, your repayment adjusts with your sales—lighter payments during slower months, larger payments during strong sales periods. Key benefits include no collateral requirements and you maintain full ownership of your business. This financing works well for expansion, equipment purchases and working capital needs.
Interested in learning more? Join Allies for Community Business (A4CB) on Thursday, October 8, at 11 AM to learn more about unique, revenue-based financing products available to established businesses that have a clear plan for growth and are looking for responsible debt that is structured differently than a term loan or a line of credit. Register for A4CB’s revenue-based financing webinar.
| September Webinar Wednesday | Opening a Business? Know Your Licensing Requirements First | |
Licensing is one of the most common—and confusing—steps for new businesses. Join The Source and the Greater Southwest Development Corporation for our September Webinar Wednesday demystifying small business licensing requirements.
Opening a business is an exciting step, but understanding your licensing requirements is essential to operating legally and avoiding costly delays. This webinar will provide entrepreneurs and small business owners with an overview of the most common business licenses, permits and regulatory requirements needed to start or expand a business. Attendees will learn how licensing requirements vary by industry, where to apply and the resources available to help navigate the process.
| | |
Wednesday, September 30, 2026
10 - 11 AM
| |
| Help Improve What's Known About Small Businesses: Survey Now Open | | |
The Federal Reserve’s 2026 Small Business Credit Survey is now open, and The Source is a proud partner in this effort. Owners and key financial decision-makers of for-profit businesses, share your recent experiences about whether and how you use debt, what financial conditions you face and more.
Answers to these questions contribute to data that directly inform the Fed, federal government agencies, service providers, policymakers and others—a public good ultimately benefiting your business and others like yours.
Click here to take the 12-minute survey now; the survey closes on November 13, 2026.
| | Small Business Opportunities | City of Chicago Neighborhood Market Grant Program | | The Chicago Department of Business Affairs and Consumer Protection (BACP) and Allies for Community Business–a Source BSO–will provide one-time $10,000 grants to eligible small retail food businesses operating a physical storefront in priority geographies across Chicago. The program will focus on businesses that are both economic anchors and food access points in neighborhoods historically impacted by disinvestment. Learn more and apply for a Neighborhood Market Grant | | Celebrating National Hispanic Heritage Month | | |
Join The Source and the Illinois Department of Commerce and Economic Opportunity (DCEO) in celebrating Illinois’s diverse Latino and Hispanic communities in observance of Hispanic Heritage Month, which runs from September 15 through October 15, 2026.
Throughout the month, DCEO will host a series of events, including an outreach tour to meet with Latino business owners across the state and Cook County. Learn more about DCEO’S Hispanic Heritage Month programming
| | The Young Entrepreneurs Pitch Competition | | |
The Chicago Minority Supplier Development Council invites you to witness the next generation of business leaders. Five finalists, culminating a five-month program, will pitch their ideas and compete for prizes totaling over $22,000 on Thursday, September 24, from 6-8 PM.
Network with other small business supporters, enjoy appetizers and refreshments, and experience the energy of entrepreneurship.
Learn more and register for the Youth Entrepreneurs Pitch Competition
| | Illinois Grocery Initiative Opens New Funding Rounds | | |
The Illinois Department of Commerce and Economic Opportunity (DCEO) has announced three new funding opportunities through the Illinois Grocery Initiative (IGI), designed to expand access to fresh food in underserved communities:
-
New Stores in Food Deserts – Grants support opening new grocery stores in food deserts. Small businesses and local governments with fewer than 500 employees and no more than four existing stores are eligible. Applications close December 9, 2026.
-
Grocery Rescue Program – This rolling program funds the reopening of grocery stores that closed within the past 12 months. Open through June 30, 2027, or until funds run out.
-
Equipment Upgrades – Existing grocery stores can apply for grants to invest in energy-efficient refrigeration, HVAC and lighting systems. Rolling applications are open through June 30, 2027.
Learn more and apply for DCEO’s Illinois Grocery Initiative funding
| | Resources for Those Who Served: Cook County Military and Veterans Resource Fair | | |
The Cook County Department of Veterans Affairs invites veterans, service members, military families, caregivers and survivors to the 2026 Cook County Military and Veterans Resource Fair on October 17, 2026, at the Brookfield Zoo from 11 AM to 3 PM.
The fair brings military, veteran and community organizations together to connect the military community with the services and benefits they've earned. Meet local, state, federal and nonprofit organizations offering healthcare, wellness programs, employment, education, benefits assistance and more—plus enjoy complimentary zoo admission and parking.
Attendees are encouraged to bring proof of military service. If available, bring one of the following: DD Form 214 with photo ID, veteran ID card or military CAC.
Learn more and register for the Cook County Military and Veterans Resource Fair
| | IMPACT Small Business Summit | | |
Join the Metropolitan Water Reclamation District of Greater Chicago (MWRD) at the annual IMPACT Small Business Summit on September 24, 2026, at Malcolm X College from 8:00 AM to 2:00 PM. This free event connects diverse business owners with public agencies, prime contractors and business development resources.
Don’t miss the opportunity to participate in matchmaking sessions, connect with over 40 exhibitors, and learn strategies for bidding success and contract compliance.
Learn more and register for the IMPACT Small Business Summit
| | Coming in October: Maximizing Your Certification | | |
Join the Center for Business Enterprise Development under the Cook County Office of the Chief Procurement Officer (OCPO) on October 14, 2026, from 2:00 to 3:00 PM for a free webinar designed to help newly certified businesses unlock the full potential of their certification and connect with contract opportunities.
Learn strategies for navigating the procurement process, identifying growth opportunities and positioning your business for success. Don't miss this chance to transform your certification into real contracts. Learn more and register for OCPO’s certification webinar
| | | | |
