STAR BUSINESS GRANT PILOT PROGRAM
The Mundelein Economic Development Commission and Mundelein Village Board are pleased to present a new pilot grant program available to Mundelein businesses. The S.T.A.R. Business Grant Program is intended to help businesses overcome hardships and needs which they could otherwise not undertake without financial assistance. Businesses may apply by submitting a proposal for a project which addresses the specific hardship or needs of that business. Documentation of the hardship and justification for the need for assistance will be required. Applicants may seek up to $5,000 in Village assistance, provided that the requested amount does not exceed 50% of the total cost of the project.
The application window for this program is from May 1, 2022 until April 30, 2023.
Contact Community Development for more information (847) 949-3282 or firstname.lastname@example.org.
Don’t Know Where to Start, But Need Business Assistance?
The College of Lake County & Small Business Development Center is working with the Village to provide free consultations to Mundelein businesses. Their staff works closely with the Village to help businesses identify the assistance needed and navigate the application process. Contact the Small Business Development Center today to schedule a free consultation and get assistance submitting your grant application: email@example.com
While the program guidelines are broad to allow for businesses to propose the unique solutions to their business’ unique needs and hardships, there are a few criteria which the Economic Development Commission will use in their review and applicants should ensure that their application addresses these points:
- The requested assistance brings value to the Village and/or community
- The requested assistance is due to a clearly demonstrated need of the business
- The proposal provides sufficient details to fully explain where the funds will be utilized
- The proposal satisfactorily demonstrates that the grant will not exceed 50% of the project cost
- The proposal complies with all other criteria included in the application form and all State, Federal, and Local laws
- The project will be completed within 6 months
The EDC and Village reserve the right to award grants at their sole discretion based on their review and after considering the cost versus benefit to the community. Funds are limited and grants are not guaranteed unless approved by the Village Board.
Amount. A total of $50,000 is budgeted in the FY22/23 budget for this pilot program. Up to $5,000 may be awarded to an individual business. Individual grant must be 50% or less of the total cost of the project. As an example, for a project quoted to cost $2,000 in total, the business may apply for up to $1,000 in assistance through this grant program. The Village Board may authorize additional amounts for projects at their own discretion.
- Applicants will submit a proposal for their project which is to be reviewed by staff and/or an EDC member. Again, applicants will be strongly encouraged to contact the College of Lake County Small Business Development Center for a free consultation (firstname.lastname@example.org) and assessment of their needs.
- The proposal will be presented to the EDC and the EDC will make a recommendation to the Village Board. The EDC will prepare Findings to memorialize the reasons for their recommendation.
- The proposal will be voted on by the Village Board at a Village Board meeting.
- Business implements the project and submits a reimbursement request form.