Small Business Capital Investment program
The local business community is the lifeline of the Village of Gurnee. Through local sales tax and other user-generated revenue, property owners of the Village of Gurnee are able to enjoy all the amenities provided without a Village property tax. The Village Board and Administration recognize and appreciate the value, hard work and investments made by the small business community and has allocated funds to support eligible businesses.
In 2021, the Village of Gurnee established a Small Business Capital Investment Grant Program to assist small business' economic growth by making capital investments they may not have been able to accomplish otherwise. The Small Business Capital Investment Grant provides the authority to grant each qualifying applicant up to $10,000 in 1:1 matching funds for capital projects, subject to funding availability.
In January 2023, Village Board recommended the expansion of the Small Business Capital Investment Grant Program to include:
- The ability for participating business owners and building owners to reapply for a second round of funding for a different project.
- The addition of hotels to participate in the reimbursable grant program.
- Transformational Grant - An opportunity to apply for 1:1 matching grant up to $50,000 for capital projects, not yet in the permitting process, with a minimum investment of $100,000. The Application period is from now through April 15. A committee will review all applications and select two (2) proposed projects for funding at this level.
- Impact Grant - No minimum project size with a rolling application period. Grants will be awarded until funds have been fully exhausted.
Click here for more information on the Transformational Grant.
Click here for more information on the Impact Grant.
For any questions about the Village of Gurnee Small Business Capital Investment Grant Program, contact Ellen Dean, Economic Development Director, at smallbusiness@village.gurnee.il.us or 847-599-7574.