Fund Established to Help Small Businesses Rebuild and Recover
Through a partnership with public and private sector the City to provide much-needed cash flow relief for small businesses owners and entrepreneurs
CHICAGO (June 5, 2020) – The City of Chicago, in collaboration with The Chicago Community Trust, has launched the Together Now: Chicago’s Fund to Rebuild Out Neighborhoods to unite funds raised by Chicago’s philanthropies, corporations, and individuals to support small businesses and nonprofits across the city.
Chicago’s small business and nonprofit community, already suffering from the coronavirus pandemic, was dealt another blow when peaceful protests devolved into unrest across the city. With an initial $10 million commitment, the purpose of this fund is to help the small business community rebuild and recover from the emergent needs.
The Together Now Fund will provide flexible resources to support small businesses across the city who have experienced significant damage, specifically for rebuilding and operational costs.
“Our hearts ache for the violence and destruction that impacted communities that were already bearing the brunt of decades of disinvestment.” said Helene Gayle, president and CEO of The Chicago Community Trust. “We rely on small businesses for far more than goods and services. They provide jobs, economic vitality and hope for our communities.”
The allocation of these funds will receive an equity lens that considers the disproportionate burden endured by local business owners, Black and Latinx business owners, those who are uninsured or underinsured, and those living in communities with a history of disinvestment.
Contributions to the Together Now Fund can be made by visiting, www.cct.org/togethernow
About The Chicago Community Trust
The Chicago Community Trust is a community foundation dedicated to strengthening the Chicago region and improving the lives of the people who call it home. For more than 100 years, the Trust has served as a trusted philanthropic partner, connecting the generosity of donors with community needs by making grants to nonprofit organizations working to create lasting change. Following the creation of a new strategic plan in 2019, the Trust stands committed to addressing Chicago’s legacy of systemic inequity and closing the racial and ethnic wealth gap, while continuing to respond to the critical needs of our most vulnerable residents. The Trust administers more than $360 million in annual grant making as part of its commitment to equity, opportunity and prosperity for the Chicago region. To learn more, visit cct.org.