Midwest Chicago-based nonprofit will use funds to launch a small business pop-up space, including a coffee shop with a social enterprise model
CHICAGO, Oct.12, 2023 – The Puerto Rican Cultural Center has been awarded a $100,000 Small Business Accelerator grant from The Hartford, in partnership with Main Street America, to create a multi-use business incubator space. The 5,000 square foot space located at 4013 West North Avenue, which will be known as the Latin American Village, will allow local small businesses to operate out of affordable vending “pods” alongside a community workspace for entrepreneurs.
“The Hartford insures nearly 1.5 million small businesses across the country, and we recognize that access to affordable real estate can be a barrier to growth,” said The Hartford’s Head of Small Commercial and Personal Lines Stephanie Bush. “The Small Business Accelerator Grant Program is designed to provide important interim space for business owners to test a bricks-and-mortar operation, while adding vibrancy to downtown districts and commercial corridors.”
In addition to providing an in-person retail platform for small businesses, the Latin American Village will feature a fully operational café. The profits from the café will fund micro-loans for local entrepreneurs and revamp abandoned storefronts on the corridor. The new space will also create and build pathways to success for small business owners at multiple stages, as well as the next generation of entrepreneurs.
“The Puerto Rican Cultural Center is thrilled to embark on this transformative journey, launching the Latin American Village with the invaluable support of The Hartford and Main Street America,” said Director of Business Initiatives Honorio Torres. “This grant is a beacon of hope, not only for our local entrepreneurs but for the vibrant Latin American culture that defines our community. By creating this innovative business incubator, we are not only shaping the future of North Ave but also preserving the rich tapestry of our heritage, which is the heartbeat of our neighborhood. Together, we’ll empower small businesses, foster the spirit of entrepreneurship, and revitalize our commercial corridor. The Latin American Village is a testament to the boundless possibilities when communities and businesses join hands in pursuit of a brighter, more prosperous future.”
The new space is expected to open in the spring of 2024.
About Puerto Rican Cultural Center
Founded 50 years ago in 1973, The Puerto Rican Cultural Center (PRCC) Juan Antonio Corretjer is a non-profit, community-based institution that serves the socio-ecological needs of Chicago’s Puerto Rican/Latino community with over 20 programs to address the community’s needs in the fields of economic development, public health, housing, and education. It is built on the following principles: a philosophy of self-determination, a methodology of self-actualization and critical thought, and a moral value that bridges self-reliance and communal responsibility, which is best expressed in the Center’s motto, “To live and help to live”. https://prcc-chgo.org/
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity.
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About Main Street America
Main Street America has been helping revitalize older and historic commercial districts for more than 40 years. Today it is a network of more than 1,600 neighborhoods and communities, rural and urban, who share both a commitment to place and to building stronger communities through preservation-based economic development. Main Street America is a subsidiary of the National Trust for Historic Preservation.
Learn more about Main Street America.