Cook County President Toni Preckwinkle Announces the Launch of Catalyst Grant to Support Businesses that are Ready for Growth

(COOK COUNTY, IL)—Cook County Board President Toni Preckwinkle announced today the launch of the Catalyst Grant, an opportunity for up to 88 established businesses in select industries to receive $100,000 to fuel their next stage of growth. 

The program is the first effort led by the Cook County Bureau of Economic Development aimed at supporting growing and established businesses throughout the County with annual sales over $500,000. Applications are open until Oct. 31, 2025, at 5 p.m. CT.  

Since 2021, Cook County has invested $67 million in 4,700 small businesses. 

"The Catalyst Grant provides established businesses that are on the cusp of growth with a unique opportunity to scale up their operations, accelerating the journey to sustainable success," said President Preckwinkle. "Local businesses are the backbone of our economy and our communities, and my administration remains committed to providing them with a strong support network and access to vital resources."    

To be eligible, businesses must be located in Cook County and operate in one of the following industries: construction; finance and insurance; information technology; manufacturing; professional services; or real estate. Industries were chosen based on several factors, including profitability, growth trends and the number of businesses located in Cook County. 

Eligible businesses also must have documented 2023 and 2024 revenue between $500,000 and $10 million, along with demonstrated growth. Selected recipients must use their funds to address hiring or training employees; upgrading facilities; or expanding operations. The application and full list of eligibility requirements are available here. 

“The Cook County Catalyst Grant program is the right effort to support Cook County,” said Derek Douglas, president of the Civic Committee of the Commercial Club of Chicago. “These investments will fuel the growth of vital businesses across our county which will, in turn, fuel the growth of the broader business ecosystem we’re working to strengthen at the Civic Committee through our Chicago Business Opportunity Initiative. We look forward to continuing to partner with the County and other stakeholders as this critical work gets underway.” 

Allies for Community Business and the Women’s Business Development Center (WBDC) are the program administrators for the Catalyst Grant. Both business support organizations are part of the Cook County Small Business Source, which provides access to business advising, resources and events—at no cost to business owners. 

Since 2021, the WBDC has served as the program administrator for several Cook County grants, helping thousands of small businesses access critical funding and resources. 

“At the WBDC, we believe that when businesses are ignited, they don’t just grow—they transform communities,” said WBDC President and CEO Erica Kuhlmann. “The Catalyst Grant is designed to do just that: support growing, employer businesses to scale, helping them expand operations, increase workforce capacity and deepen their economic impact. We can’t wait to see how these 88 businesses light up Cook County’s economic landscape.” 

Cook County is committed to looking for opportunities to support economic growth. In addition to receiving business advising services, which are proven to contribute to business success, capital resources can accelerate growth trajectory for small business.  

Jaime di Paulo, president and CEO of the Illinois Hispanic Chamber of Commerce, one of The Source’s Business Support Organizations, noted that there are nearly 100,000 Hispanic-owned businesses in Cook County, yet 90% of those businesses operate with fewer than 20 employees.  

“We know that once a business surpasses the 20-employee threshold, it experiences exponential growth. These businesses drive job creation, boost consumer spending, and strengthen supply chains that benefit entire industries,” said di Paulo. “The Catalyst Grant will not only fill a longstanding gap in access to growth capital, it will also help close the wealth gap that the Hispanic community continues to face. By empowering high-potential firms to scale, this investment strengthens our communities, accelerates inclusive economic development, and builds generational prosperity. As we celebrate Hispanic Heritage Month, this initiative is a powerful reminder of the resilience and entrepreneurial spirit that drives our region forward." 

Application assistance is available to interested businesses through The Source’s network of 13 Business Support Organizations, including the Illinois Hispanic Chamber of Commerce and WBDC. A help desk is also available, as well as several helpful online assets including a video explaining the application process, checklists for applicants and more. 

Applicants will receive notification of their status in December 2025 and Cook County will distribute funds in spring 2026. 

For more information on the Cook County Catalyst Grant, visit cookcountysmallbiz.org/catalystgrant.