Notice of Funding Opportunity for Incubators & Minority Owned Small Businesses
What’s Happening? • The Office of Minority Economic Empowerment posted a $10 million Notice of Funding Opportunity (NOFO) for minority-owned businesses and a $5 million NOFO for incubators who serve or will serve minority-owned businesses. • Goal of the NOFOs is to give minority-owned businesses the resources they need to create jobs, build capacity, increase revenue and grow. • Grants for minority-owned businesses are up to $500,000 and grants for incubators are up to $250,000.
Who is eligible for the grants up to $500,000? • Minority-owned businesses, including start ups, located in low-to-moderate income areas. • Applicants must show that their proposed project will create economic development in low-to-moderate income areas. • Note: businesses cannot apply for a grant until they have pre-qualified through the Grant Accountability and Transparency Act (GATA) Grantee Portal. (www.grants.Illinois.gov)
Who is eligible for the grants up to $250,000? • Entities that serve or will serve as incubators for minority-owned businesses that can demonstrate their presence in a low-to- moderate income area will increase visibility of the minority-owned businesses serving or planning to serve the area. • Note: entities cannot apply for a grant until they have pre-qualified through the Grant Accountability and Transparency Act (GATA) Grantee Portal. (www.grants.Illinois.gov)
Project Requirements • Funded projects must meet bondable requirements set forth in 30 ILCS 425 of the Build Illinois Bond Act of 1972. • Specific projects include, but are not limited to: • The renovation or expansion of existing buildings • Purchase of real property & new construction • Purchase of essential equipment • Rehabilitation of publicly-owned real property • Installation of public facilities (i.e. – sidewalks) • Minority-owned business applicants are eligible for up to $500,000. Incubator applicants are eligible for up to $250,000.
How to Apply • All applicants are required to: • If you haven’t already, register with the Grant Accountability and Transparency Act (GATA) grantee portal at www.grants.Illinois.gov (required annually). • Businesses must be registered in the System for Award Management before submitting an application. To register go to www.SAM.gov and maintain an active account. • Provide a valid DUNS number in the application. • Be in good standing with the IL Secretary of State. • Complete the Fiscal and Administrative Risk Assessment.
How to Apply, cont. • Grant application forms are available on the DCEO website: http://www.Illinois.gov/dceo. • All applications must contain: • Uniform Grant Application in fillable PDF format • Uniform budget utilizing the template provided by DCEO • Conflict of Interest Disclosure • Mandatory Disclosures • Project Narrative • Applying is not a guarantee of funding. • All applications must be submitted electronically to ceo.accountability@Illinois.gov by 5pm CST on June 30, 2019.
Grant Lifecycle Pre-Reward Application Active Grant Requirements Submission/Review • Valid DUNS number • • Merit Review Committee Grant funds are paid on a • Current SAM.gov • Programmatic Risk reimbursement basis, account Assessment except an initial advance, • Not be on the Federal Questionnaire up to 25% of total funds Excluded Parties list • • Accepted Applicants will Grant funds will be • Be in Good Standing Receive Notice disbursed quarterly and with the Illinois • Grant Agreement disbursements must be for Secretary of State Execution eligible expenses • Not be on the IL Stop Payment List NOTE: application and • Fiscal and information above can be Administrative Risk found on the Catalog of Assessment State Financial Assistance (CSFA) NOTE: can all be found at www.grants.Illinois.gov
Questions? • Contact the First Stop Business Information Center hotline at: 1-800-252- 2923. • Follow DCEO on Social Media: • Twitter: @IllinoisDCEO • Facebook: @illinoisdceo • LinkedIn: Illinois Department of Commerce & Economic Opportunity
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