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PROPOSED RESOLUTION
A RESOLUTION REGARDING THE COOK COUNTY SMALL BUSINESS SOURCE - FY2027 BUSINESS SUPPORT ORGANIZATION, REFERRAL PARTNER, AND COMMUNITY FINANCIAL INSTITUTION AUTHORIZATIONS
WHEREAS, the Cook County Bureau of Economic Development (BED) advances its mission to enhance quality of life through equitable community and economic development, including initiatives designed to strengthen and support small businesses; and
WHEREAS, to better understand the needs of local entrepreneurs, Cook County assessed the small suburban business ecosystem in 2019-2020 and found the need for a coordinated and connected network of Business Support Organizations (BSOs); and
WHEREAS, The Source - Cook County’s flagship small business support program - was established in 2021 to address gaps in the small business ecosystem, expand access to high-quality advising and resources, strengthen the small business support network particularly in suburban Cook County, and promote business resilience, growth, and economic mobility; and
WHEREAS, since 2022, The Source has served more than 36,000 small businesses through direct assistance, maintains a 42 percent repeat-client rate reflecting sustained demand and trust, delivers effective and consistent marketing and outreach that has reached more than 161,000 businesses; and
WHEREAS, The Source’s client base consistently includes 79% micro-businesses (businesses with less than 10 employees), 82% of businesses owned by People of Color, and 60% identify as women owned; and
WHEREAS, The Source continues to receive strong client feedback confirming positive business outcomes; and
WHEREAS, recently The Fund for Equitable Business Growth released its 2026 Chicagoland Small Business Ecosystem Reassessment reports that there are approximately 687,000 small businesses in Cook County, supporting over one million jobs, and that are part of the local economy generating approximately $958 billion in revenue across all businesses; and
WHEREAS the Ecosystem Report also notes that the net worth of business owning families is four times the net worth of non-business owning families; and
WHEREAS, since 2021, The Source has distributed $75 million in grants to more than 4,600 small businesses and invested $2.4 million in Community Financial Institutions (CFIs) to expand available capital; and
WHEREAS, in FY26 The Source uses a coordinated network of 13 BSOs, five CFIs, and 42 Referral Partners, supports a unified intake system, conducts annual impact assessments, and supports a robust data infrastructure including a custom Salesforce platform; and
WHEREAS, the Referral Partner program-including up to 45 community-based organizations annually-serves as “boots on the ground” across Cook County and generated approximately 25 percent of new clients in 2025; and
WHEREAS, after five years of federal ARPA funding that supported a sub-recipient and administrator to co-create and manage The Source’s Business Support Organization network, as well as supported the Referral Partner program and Community Financial Institution Capacity Building program, the Bureau of Economic Development (BED) will assume full program management beginning in FY2027; and
WHEREAS, BED conducted a competitive Open Call process-including eligibility screening, scoring based on published criteria, review panel evaluation, and administrative review-to identify organizations best suited to serve as Business Support Organizations; and
WHEREAS, BED recommends funding twenty (20) Business Support Organizations based on organizational ability, capacity, geographic reach, and commitment to serving Cook County’s diverse small business community; and
WHEREAS, the FY2027 BED budget, subject to Cook County Board approval, includes $2.92 million to support operating grants to the following 20 BSOs for a performance period beginning December 1, 2026, through November 30, 2027; and
1. 36Squared Business Incubator: 95,000
2. Allies for Community Business: 235,000
3. Berwyn Development Corporation: 235,000
4. Builders Avenue: 140,000
5. Chicago Minority Supplier Development Council: 140,000
6. Chicago Southland Chamber of Commerce: 95,000
7. Chicago Sunshine Enterprises: 95,000
8. Chicago Urban League: 95,000
9. Chinese Mutual Aid Association: 140,000
10. Greater Southwest Development Corporation: 140,000
11. Illinois Hispanic Chamber of Commerce: 235,000
12. Illinois Restaurant Association: 235,000
13. Legal Aid for New Entrepreneurs: 95,000
14. Little Village-26th Street: 95,000
15. Northwest Hispanic Chamber of Commerce: 95,000
16. Polsky Center: 95,000
17. Rogers Park Business Alliance: 95,000
18. Schaumburg Business Association: 95,000
19. Southland Development Authority: 235,000
20. Women’s Business Development Center: 235,000
WHEREAS, subject to approval of the FY2027 Cook County budget, this resolution seeks authorization to implement three core elements of Cook County’s small business program: $2.97 million to support the BSO Network, $450,000 for grants to the Referral Partner program and $1.12 million to continue the Community Financial Institution Capacity Building Program for a total of $5,250,000.
WHEREAS, as in 2026, BED will require advisors, if they have not done so previously, to participate and complete The Advisory Academy, a training program administered by the Women’s Business Development Center for BSO advisors that includes various learning modules ranging from establishing the advisor relationship to getting businesses loan ready developed and taught by the Chicago Urban League, Sunshine Enterprises and the Women’s Business Development Center; and
WHEREAS, $50,000 of the BSO Network budget includes funds to support the 2027 Academy via a sole source agreement with Women’s Business Development Center, subject to approval by the Budget Director; and
WHEREAS, BED annually contracts with up to 45 Referral Partners through an open application process, compensating each with grants up to $15,000 to support outreach, promotion, and client acquisition for The Source; and
WHEREAS, BED plans to continue the Referral Partner Program in FY2027 with $450,000 included in its proposed FY2027 budget; and
WHEREAS, BED used an open and competitive process to select five Community Financial Institutions, whose contracts began on December 1, 2026, to increase access to capital to small businesses and approved by Cook County Board in item 25-3953; and
WHEREAS, BED now seeks authorization to increase the contract amounts within the existing contract term for these organizations as part of the FY2027 access to capital initiative; and
WHEREAS, BED will also extend its contract with CAMEO, a non-profit technical assistance provider, for up to $100,000 to expand technical assistance support available to participating CFIs and other interested BSOs; and
NOW, THEREFORE, BE IT RESOLVED, that the Cook County Board of Commissioners hereby approves and authorizes the Bureau Chief of the Cook County Bureau of Economic Development to enter into grant agreements with twenty (20) selected Business Support Organizations for participation in The Source program during FY2027; as well as a Sole Source Contract with the Women’s Business Development Corporation to offer the Advisor Academy to all 2027 BSOs; and
BE IT FURTHER RESOLVED, that the Cook County Board of Commissioners authorizes BED to execute grant agreements with selected Referral Partners and Community Financial Institutions in accordance with the FY2027 budget; and,
BE IT FURTHER RESOLVED, that subject to availability of future funding and satisfactory performance, BED may renew BSO, Referral Partner, and CFI agreements for FY2028; and
BE IT FURTHER RESOLVED that the Cook County Board of Commissioners hereby authorizes the Bureau Chief of BED or its designee to modify the agreements and funding allocations to all BED selected organizations based upon need and utilization provided that increases in agreements are offset by decreases in other agreements and do not exceed the cumulative agreements value of $6,500,000; and
BE IT FURTHER RESOLVED, that copies of this resolution be distributed to the participating organizations and relevant County offices as appropriate.
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