One hundred minority-owned small businesses in Cook County could receive $10,000 each through Comcast’s RISE Investment Fund, the company announced Wednesday.
Businesses owned by women and people of color can access the cash between October 3 and October 16, the company said.
The $1 million grant is part of Comcast’s initiative to provide equity to small businesses owned by often underrepresented groups.
To qualify, a business must have been in existence for at least one year, be at least 51% owned by a woman or person of color, and have no more than 25 employees.
“Women-owned businesses face a variety of challenges, including access to funding,” Emilia Dimenko, president and CEO of the Women’s Business Development Center, said in a news release. “These dollars allow them to invest in their businesses and move their financial position forward.”
Cook County is among five areas where Comcast’s RISE fund will award $1 million in grants. The others are Miami, Oakland, Seattle, and Washington, DC.
This is Comcast’s second grant to minority-owned small businesses in Chicago.
The Comcast Investment Fund was established in 2020 to help small businesses deal with the consequences of the Covid-19 pandemic.
“The epidemic has disproportionately affected businesses owned by women and people of color in Cook County and elsewhere,” Cook County Board President Toni Preckwinkle said in a news release. “I encourage eligible businesses to apply for assistance. This money will help strengthen their position, especially as we emerge from the pandemic.
