Welcome to the Schaumburg Small Business Source, a quarterly e-newsletter prepared by the Village of Schaumburg Economic Development Department to keep you informed of the latest small business activities and resources in the area.
We look forward to sharing information and receiving your feedback.
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Next Level Northwest
– Last Call for Applications
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Next Level Northwest (NLNW) is a free business accelerator program for businesses that have moved beyond the start-up phase but have not yet reached their full potential. This is your opportunity to engage with professional business coaches from around the Chicagoland area to help you grow your business, engage with your employees and innovate.
Companies interested in the program can pitch themselves to a panel of judges who will determine their acceptance into the free program. Once accepted, the business will be paired with professional business coaches and mentors. To qualify, businesses must have been in business
for at least three years and reached some financial milestones
.
Schaumburg's next pitch night which will be hosted on Oct. 1, so please submit your application as soon as possible!
To apply, visit the NLNW website using the link below
.
For more information, cont
act Director of Economic Development
Matt Frank
at (847) 923-3853.
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Join the Village of Schaumburg and the Schaumburg Business Association for the inaugural Small Business Showcase event. The program brings together a number of incredible organizations to help support everything small business. Participating organizations include SCORE, Harper College SBDC, Women’s Business Development Center, the Small Business Advocacy Council, Schaumburg Township, and several others. Complimentary breakfast will be provided by Corner Bakery. To register, follow the link below.
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Is your business in need of capital? While many businesses rely on their banks for traditional lines of credit and equipment loans, it’s oftentimes not enough. Even well established businesses can fall short of meeting a bank's credit criteria to qualify for a loan. Fortunately, there is a program that can help!
In addition to the more widely known SBA loans, there is another resource available called the
Advantage Illinois Participation Loan Program (Advantage Illinois)
. The Illinois Department of Commerce & Economic Opportunity (DECO) created Advantage Illinois, a federally funded program through the Small Business Credit Initiative. The program has created over 400 jobs and loaned more than $78 million dollars to Illinois businesses.
Working with participating lenders across the state, Advantage Illinois gives entrepreneurs an avenue to access capital. One such participating lender in the program is Schaumburg Bank & Trust Company N.A., a Wintrust community bank. The bank, alongside the state and the business owner, structures a credit that works for all parties. The bank is the primary lender and the state participates by purchasing up to 50 percent of the loan amount, reducing the bank’s credit exposure and strengthening the overall credit quality of the loan.
To get started or to obtain more information, please contact
Maria Colangelo
with the State of Illinois at (312) 814-1595 or
Teresa Faidley
with Wintrust at (847) 364-2846.
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Busy Bee
Busy Bee is a car wash facility located immediately west of the Higgins Road and Golf Road intersection. The car wash has been in business in Schaumburg for over 25 years. Recently, Busy Bee completed a major renovation project to provide its customers with top-of-the-line modern amenities.
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The car wash now features a fully automatic express tunnel along with 15 vacuums for customers to use, completely free of charge. Car wash prices range from $3-$15 but all car washes are $2 off from 7 a.m. to 9 a.m. daily. For more information on Busy Bee, visit their
website
or contact them directly at (847) 884-7686 or
[email protected]
.
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Mezé Mediterraneo
Mezé
is a Mediterranean-inspired restaurant located just south of Woodfield Mall at 680 Mall Drive. The restaurant has been in business for about a year after it replaced Zeal Restaurant. Mezé
offers a fresh and contemporary dining experience through its interior décor and authentic Mediterranean dishes.
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Upon entry, visitors are immediately welcomed with a view of the restaurant’s extensive wine vault and interior design that features natural wood materials and contrasting white, grey and brown tones. Mezé
also boats an exclusive wine program called “Club M” where all members have access to preferred pricing on a curated selection of wines, many of which are not available on the restaurant’s wine list. For more information, visit Mezé's
website
or contact them directly at (847) 598-6393.
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The Village of Schaumburg embraces small businesses and their impact on the community’s growth, vitality and diversity. Please check out our informative web page containing resources related to small business planning and successes within the village. Please share our resources and help us cultivate and preserve Schaumburg as the premier destination in the suburbs. The web page can be found at the link below.
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2020 Financial Education Seminars for Small Businesses
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The Village of Schaumburg and Schaumburg Bank & Trust Company, have teamed up to present two seminars for small businesses, each designed to educate how to connect financial literacy to business strategy. The first seminar will address financial literacy and will include information on basic financial principles, how to read financial statements, and how to ask your accountant the right questions. The second seminar will focus on accessing capital including the Advantage Illinois program as well as several other bank loan and credit enhancement programs.
Dates, times, and locations for these seminars are forthcoming. Additional information will be provided once all details have been finalized. For more information, contact Economic Development Manager
Debbie Van Sickle
at (847) 923-3852 or
Teresa Faidley
with Wintrust at (847) 364-2846.
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Meet the Economic Development Department Staff
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The Village of Schaumburg has a dedicated department to help grow your business. If you are interested in meeting Economic Development Department staff members or wish to discuss a particular issue, please call the department at (847) 923-3707 or email Kevin Leighty at
[email protected]
.
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About the Schaumburg Small Business Source
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The Schaumburg Small Business Source is an e-newsletter distributed to small business owners, Schaumburg residents, and visitors to keep them informed of the latest activities and resources in the area. If you have any questions or comments about the information provided in this e-newsletter, please contact Management Analyst
Kevin Leighty
at (847) 923-3871.
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