$1 million in grants offered to Cook County minority-owned small businesses

One hundred minority-owned small businesses in Cook County will receive $10,000 each through Comcast’s RISE Investment Fund, the company announced Wednesday.

Businesses owned by women and people of color can apply for the cash from Oct. 3 through Oct. 16, according to the company.

The $1 million in grants is part of Comcast’s initiative to provide support and equality to small businesses owned by often unrepresented groups.

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To qualify, a business must have existed for at least a year, be at least 51% owned by a woman or a person of color, and have no more than 25 employees.

“Women-owned businesses face a variety of challenges, including accessing funding,” Emilia DiMenco, Women’s Business Development Center president and CEO, said in a statement. “These dollars will allow them to invest in their businesses and strengthen their financial position moving forward.”

Cook County is among five locations where Comcast’s RISE fund is offering $1 million in grants. The others are Miami, Oakland, Seattle and Washington, D.C.

This is the second time grants have been offered by Comcast to minority-owned small businesses in Chicago.

Comcast’s Investment Fund was formed in 2020 to help small businesses dealing with the consequences of the COVID-19 pandemic.

“The pandemic has affected businesses owned by women and people of color in Cook County and elsewhere exceptionally hard,” Cook County Board President Toni Preckwinkle said in the statement. “I encourage eligible businesses to apply for a grant. This money can help strengthen their position, especially as we emerge from the pandemic.“