The Illinois Department of Commerce and Economic Opportunity (the “Department”) is issuing this Notice of Funding Opportunity to seek qualified host organizations to operate Small Business Development Centers and/or Satellite Centers and provide program services.
Donor Name: Illinois Department of Commerce & Economic Opportunity
State: Illinois
County: All Counties
Type of Grant: Grant
Deadline: 12/15/2022
Size of the Grant: $40,000 – $525,000
Grant Duration: 1 year
Details:
The Department of Commerce and Economic Opportunity, which, through a shared cooperative agreement with the United States Small Business Administration (SBA), serves as host to the Illinois Small Business Development Center (SBDC) Program Lead Center. The Lead Center, through this funding opportunity, is seeking qualified host organizations to operate SBDC service centers and/or satellite centers and participate in the delivery of professional services by providing information, training, and guidance to assist entrepreneurs and accelerate the growth potential of viable, long-term, small business ventures to positively impact Illinois’ economy. This funding opportunity aims to utilize a competitive process to leverage resources and partnerships to ensure the greatest outcomes for the small business community in Illinois while ensuring accountability, transparency, and impact for the state and federal taxpayer dollars used to fund the program.
SBDCs are designed to stimulate business formation and contribute to long-term business success and sustainability. In addition to assisting a qualified host organization to achieve its core mission, the benefits of serving as an SBDC host partner include:
- opportunity to provide service and support directly to the local business community
- attribution of direct and measurable economic impact
- enhanced understanding of business community needs
- collaboration opportunities with other strategic public and private sector organizations impacting economic development
- leverage of funding from federal and state resources
Funding Information
- Total amount of funding expected to be awarded through this NOFO is up to $5,585,000. Awards will range from $40,000 to $525,000.
- The period of performance is expected to be January 1, 2023, through December 31, 2023
Eligibility Criteria
- Eligible applicants include:
- Fully accredited institutions of higher education such as public and private universities, state, and community colleges;
- Private nonprofit corporations engaged in economic development activities;
- Local counties or municipalities that have pre-existing community/economic development departments and/or programs; and
- Public economic development institution.
For more information, visit IDCEO.