The Aurora Regional Economic Alliance Foundation (Aurora Regional Alliance Foundation; formerly Invest Aurora) offers financial assistance programs that support local business development by providing nontraditional means of project financing.
The Finish Line Grant program offers gap financing solutions to help commercial businesses and property owners complete essential property rehabilitation and improvement projects, ensuring that our local commercial spaces continue to thrive.
The Alliance Foundation is also partnering with SomerCor to support and complement Aurora’s development and redevelopment initiatives. Pairing SomerCor’s expertise in SBA 504 lending and grant administration with the Alliance’s strong local presence and focus on inclusive growth will empower entrepreneurs and small business owners with the resources and financing they need to succeed.
Other Grant and Loan Resources
The Illinois Small Business Development Center at Waubonsee Community College is a great resource for loan inquiries. Contact Small business development coordinator Miranda Rodriguez at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 630-966-4664 to learn more.
The Illinois Works Pre-Apprenticeship Program provides grants to organizations or coalitions throughout the state that will recruit, prescreen, provide pre-apprenticeship skill training, and transition participants to USDOL Registered Apprenticeship programs. Successful grantees are expected to provide pathways and manage the transition from the pre-apprenticeship program to a full apprenticeship program in construction and the building trades. Eligible applicants include nonprofit community-based organizations, such as colleges, industry associations, chambers of commerce, local workforce innovation areas, community colleges, technical schools, or school districts. Deadline: September 1, 2025
The Clean Energy Career Pathway Program provides funding directly to eligible recipients to support the planning and implementation of a Clean Energy Career Pathway. Programs include coursework, field experiences, and work-based learning designed to prepare students for entrance into careers focusing on electric vehicles. Applicants include qualified, eligible public or private educational institutions at the secondary and post-secondary level that will work with the Local Workforce Innovation Areas and employers to recruit students into clean energy fields and create pathways encompassing technical and employability skills with dual credit options. Deadline: September 30, 2025
The Open Space Lands Acquisition and Development (OSLAD) Program by the Illinois Department of Natural Resources is a state-financed grant program that provides funding assistance to local government agencies for acquisition and/or development of land for public parks and open space. Projects vary from small neighborhood parks or tot lots to large community and county parks and nature areas. Deadline: September 30, 2025
The purpose of the Community Development Block Grant Economic Development Program by the Illinois Department of Commerce and Economic Opportunity is to assist communities in attracting or expanding private businesses. The program provides financial assistance in the form of a grant to the local government for the benefit of private businesses that create or retain jobs primarily for low- to moderate-income workers. Grants may also be used to support public infrastructure improvements tosupport economic development as an indirect benefit to a private business. Deadline: Rolling
The Illinois Grocery Initiative Equipment Upgrades Program, authorized by Public Act 103-0561, will provide grants for new energy-efficient equipment upgrades for existing independently owned for-profit grocery stores, cooperative grocery stores, or not-for-profit grocery stores. The award range possibility is $25,000 to $250,000 and is capital only (no operational expenditures). Deadline: December 15, 2025
Equitable Energy Future Grant Program is intended to address barriers to project, community, and business development in justice-impacted communities caused by a lack of available capital. Applicants include Equity Eligible Contractors (EEC) that can provide an Illinois Power Agency EEC certification, obtainable by businesses that are majority owned by equity eligible persons; a nonprofit or cooperative that is majority governed by equity eligible persons; or an individual who offers personal services as an independent contractor. Deadline: December 31, 2025
The Community Solar Energy Sovereignty Program supports pre-development and development of community solar projects promoting community ownership and energy sovereignty. Applicants are qualified community-based organizations defined by the National Community-Based Organization Network (NCBON) in the Illinois Power Agency’s 2022 Long-term Plan. Public entities may qualify as a community-based organization, but only if the public entity meets certain requirements; and technical service providers working in direct partnership with community-based organizations. Deadline: December 31, 2025
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) are competitive federal grant programs that provide funding opportunities for small businesses to perform research and development on technology of interest to federal agencies. Both projects provide funding to explore the potential of high-tech products and encourage commercialization of those products. This program would provide a state match to companies that have received awards through the SBIR and STTR grant programs. Eligible applicants are for-profit businesses based in Illinois that have received an SBIR/STTR Phase I award from a participating federal agency. Deadline: June 30, 2026
The intent of Business Attraction Prime Sites Program is to assist companies with large-scale capital investment projects that commit to significant job creation for Illinois residents as they relocate or expand operations within Illinois. Business Attraction Prime Sites grants can encompass a wide range of economic development projects and may include infrastructure and capital equipment purchases that will result in job creation in the state of Illinois. Eligibility can be found at the link. Deadline: June 30, 2026
The Community Development Block Grant (CDBG) Economic Development Program provides federal funding for community-based projects. Communities in non-metropolitan areas can apply for funding to assist private business in retaining or creating full-time, permanent jobs. Funds may also be used for improvements to public infrastructure directly supporting companies in local communities. Deadline: Rolling
The Illinois Returning Residents Clean Jobs Program deliver clean jobs training in Illinois Department of Corrections facilities to individuals within 36 months of their release to prepare them to work in clean energy and related sector jobs upon release. The program provides classroom instruction and hands-on learning opportunities, utilizing a standard Clean Jobs Curriculum Framework, connecting program graduates with potential employers in the clean energy industry, and addressing participant needs. Applicants include community-based organizations providing employment, skill development, or related services to members of the community; include community colleges, nonprofits, and local governments; and, have a history of serving committed persons or justice involved persons. Deadline: Rolling
