Illinois OE3 Small Business Capital and Infrastructure Grant Program
Illinois Department of Commerce and Economic Opportunity (DCEO)
$10,000–$245,000
Researched for this program: 5 rejection traps · 7 required documentsWhat decides this award ↓
Illinois equity SMB capital grants — up to $245K
Equity-focused Illinois state grant awarding $10K–$245K to socially and economically disadvantaged-owned small businesses and very small businesses (under 10 employees) for infrastructure improvements, equipment purchases, and property acquisition. FY2025 round awarded $10M to 47 businesses. Applications closed April 2025; next round timing TBD.
- Funding type
- Grant
- Level
- State
- Amount range
- $10,000 – $245,000
- Realistic amount
- Median awards in FY2024 ranged $50K–$150K based on published awardee data
- Deadline
- Applications closed in April 2025; DCEO says there are no plans for future funding
- Status
- closed
- States
- IL
- Payment model
- reimbursement
Who qualifies
- Must be a SEDI-owned business (Socially and Economically Disadvantaged Individual) OR a Very Small Business (VSB) with fewer than 10 employees
- SEDI definition includes minority-owned, women-owned, veteran-owned, LGBTQ-owned, and businesses owned by persons with disabilities
- Maximum 25 full-time permanent employees (SEDI businesses); maximum 10 employees (VSB track)
- Must be located in Illinois or creating jobs in Illinois
- Businesses in CDFI Investment Areas receive priority scoring
- Projects must demonstrate measurable economic impact (job creation, revenue growth, or community engagement)
Hard requirements
- Must be incorporated
- Demographic eligibility: minority-owned
What it covers
Eligible expenses
- Infrastructure improvements and building renovations
- Essential equipment purchases
- Property acquisition for business operations
- Site improvements
- Energy efficiency and sustainability upgrades
- Compliance and accessibility modifications
- Workforce development and job creation initiatives
Ineligible expenses
- Operating expenses and working capital
- Payroll or salaries
- Debt refinancing
- Projects already underway before award
- Businesses with more than 25 full-time employees
How to apply
-
1
Watch for DCEO announcement
Monitor dceo.illinois.gov and sign up for alerts at CEO.GrantHelp@illinois.gov. The FY2025 round was announced with ~10 weeks to apply. No FY2026 round announced yet.
~1 hrs
-
2
Confirm eligibility (SEDI or VSB track)
Determine if you qualify as SEDI-owned (minority, women, veteran, LGBTQ, disability) or as a Very Small Business with under 10 employees. Gather ownership documentation.
~2 hrs
-
3
Define your project
Identify specific capital expenditures: facility improvements, equipment, property purchase. Obtain vendor quotes. Document how the project creates jobs or economic impact.
~5 hrs
-
4
Prepare financial and business documents
Gather 2 years of tax returns, business financials, proof of Illinois registration, ownership documentation, and project budget with vendor quotes.
~6 hrs
-
5
Submit application through DCEO portal
Complete online application when round opens. Upload all documents. Contact CEO.GrantHelp@illinois.gov for technical assistance during the application window.
~4 hrs
47 awards from a competitive statewide pool — roughly 1 in 5 applicants funded based on known round size. CDFI Investment Area location adds priority scoring; confirm your address at https://www.cdfifund.gov/programs-training/certification/cdfi before applying.
Deadline & timing
The FY2025 application window ran January–April 7, 2025. Governor Pritzker announced the program in January 2025; awards announced November 2025. No FY2026 round announced as of May 2026. Email CEO.GrantHelp@illinois.gov to be notified of next round.
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