In 2021, The Lake County Community Foundation (LCCF) and Allies for Community Business (A4CB) launched the Small Business Growth Initiative (SBGI) to support small businesses in historically disinvested communities within Lake County by infusing financial, relational and human capital.
The SBGI program provides entrepreneurs with a four-month learning cohort, including a $30,000 grant and in-person sessions on key business topics like financial management, capital streams and operations. Participants also receive tailored resources, referrals and technical assistance. After completing the program, they can continue engaging with partners and peers to support long-term growth.
The application for SBGI’s 2025 cohort is currently open through April 11. Entrepreneurs with businesses located in Waukegan or North Chicago in eligible industries are encouraged to apply today! The learning cohort will take place from May to September 2025. Apply today at sbgilc.org.
“At LCCF, we believe small businesses are the heartbeat of thriving communities. Through the Small Business Growth Initiative, we’re not just investing in businesses—we’re investing in the people, culture and resilience that make these communities strong. By building on existing strengths and providing the tools, connections and capital business owners need to grow, we are working alongside entrepreneurs to create a more vibrant economic future for communities,” said Courtney Combs, Director of Strategy & Community Impact at The Lake County Community Foundation.
SBGI program goals include creating pipelines of entrepreneurship in historically disinvested communities and increasing economic development and community engagement. SGBI program graduates include coffee shop Drip & Culture, restaurant Big Ed’s BBQ, floral shop Pope’s Florist & Gifts and women’s gym WWM Fitness. Many participants’ businesses have a community focus, such as giving back through food donations, youth training and more.
Allies for Community Business (A4CB) joined the program as a partner in 2021 to provide a grant to the first grant recipient, Drip & Culture. Since then, A4CB has supported SBGI by providing coaching services to SBGI participants as well as providing entrepreneurs in Lake County with access to its services. Located on Chicago’s West Side, A4CB is a community development financial institution that provides capital, coaching and connections to entrepreneurs throughout Illinois and Indiana. Over 2023-2024 and via two SBGI cohorts, 12 small business owners obtained a $30,000 grant to launch and scale their business initiative and received free 1:1 coaching from A4CB’s business coaching team.
“The Small Business Growth Initiative creates an opportunity for Lake County business owners to step away from day-to-day operations and take time to strategize about how to achieve their goals,” said Rowan Richards, Director of Business Coaching at A4CB. “SBGI is a community of like-minded business owners, mentors, and coaches who provide a unique support system that many founders have difficulty finding.”
A4CB also offers term loans and lines of credit between $500 and $100,000 to early, emerging and established businesses in Lake County. Between 2023 and 2024, A4CB served 400 entrepreneurs and funded 65 loans totaling $650,000 in Lake County. As a mission-driven nonprofit, A4CB is different from other lenders. A4CB does not use credit scores and does not judge the value of personal assets. Instead, A4CB evaluates how well entrepreneurs have managed their debt over the past two years and how much cash entrepreneurs have available to make monthly loan payments. To learn more about A4CB’s small business lending, visit a4cb.org.
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