Business Capital Assistance Program
The purpose of the Business Capital Assistance Program is to encourage the recruitment and establishment of businesses within the Village. Additional businesses in Fox River Grove will help promote customer traffic for existing businesses, expand the offering of goods and services available locally, and create an environment to better position all businesses to see a return on investment.
Goals & Objectives
The Village hereby establishes the following goals and objectives towards implementation of the program:
- Promote economic development
- Attract new businesses to current vacant commercial spaces within the Village
- Strengthen the local tax base through new business establishment
- Create and retain jobs locally
The Business Capital Assistance Program is designed to assist businesses looking to locate to Fox River Grove by providing grants of up to $15,000. Any business awarded funding under the Program will be issued the full grant amount from the Village within six (6) months of opening, as defined in the Program Agreement.
Eligibility
Applicants must be a new sales-tax-revenue-generating business or service based business with a store front of leased or owned commercial space in Fox River Grove. Grant is not intended for professional offices including but not limited to offices primarily engaged in medical, dental, legal, accounting, and investment advisors.
The applicant business must generate walk-in traffic, or be otherwise open to the public.
Applicant must obtain all applicable licenses with the Village, including but not limited to: business license, liquor license, etc.
Program Information & Application
Business Capital Assistance Program (BCAP) Agreement