Southland Development Authority & Steans Family Foundation Partner to Accelerate Capital Deployment in Construction
Our goal is to accelerate the deployment of critical capital to minority-owned construction firms that have the pipeline but lack the working capital or bonding capacity to scale.”
TINLEY PARK, IL, UNITED STATES, September 4, 2026 /EINPresswire.com/ -- The Southland Development Authority (SDA) and the Steans Family Foundation today announced a new strategic partnership aimed at elevating minority business owners across the Southland. This collaboration focuses on providing the capital, strategic support, and critical resources necessary to accelerate business growth and promote long-term economic stability in underserved communities.— Emmanuel Davila, Vice President of Programs and Client Services
The partnership will kick off with a two-part event series designed to connect growth-focused construction firms with essential capital resources. Featuring insights from experienced investors, the events will deliver targeted strategies for deploying funds efficiently and overcoming common operational challenges. In addition, the events will expand attendees' professional networks to foster long-term success and ongoing growth.
“Our goal is to accelerate the deployment of critical capital to minority-owned construction firms that have the pipeline but lack the working capital or bonding capacity to scale,” said Emmanuel Davila of the Southland Development Authority. “By supporting these businesses, we are directly investing in the economic health of disinvested communities, such as North Lawndale. When these businesses grow, the communities grow with them.”
The Virtual 'Power Hour' (September 16, 2026): This virtual session will serve as the first step in identifying and supporting growing contractors. It will provide a comprehensive overview of the Steans Family Foundation’s capital strategy, including working capital loans ranging from $100,000 to $500,000, and longer-term investment opportunities. Attendees will learn about criteria for strong candidates and gain insight into how capital can be deployed to strengthen back-office operations and increase bonding capacity.
More information on the virtual event and registration can be found here: https://us06web.zoom.us/meeting/register/G5ECmjwTTb-pyvVZh7WxTA#/registration
Curated In-Person Experience (October 2026): In October, the partnership will host a highly targeted in-person event on Chicago’s Southwest Side. This exclusive session will connect vetted contractors directly with capital partners and developers managing active project pipelines. The event will feature a fireside chat with past clients who have successfully leveraged these resources to scale their businesses.
Leo Smith, Trustee at the Steans Family Foundation, added, “This partnership is rooted in our commitment to creating quality jobs for residents on the South and West Sides, particularly in North Lawndale. By providing the necessary financial controls and strategic support, we ensure these businesses can hire locally and drive meaningful growth in under-resourced communities.”
This joint initiative aligns with the SDA’s broader mission to drive equitable economic growth through strategic partnerships that build wealth for individuals and municipalities. By focusing on firms with strong employment potential, the SDA and Steans Family Foundation are establishing a replicable model for regional development, ensuring that capital is connected to business owners who are ready to put it to use and grow.
More information and registration details for the October in-person convening will be announced in the coming weeks. To remain up to date on the latest developments on the October event and all of SDA’s critical work in the Southland, sign up for the SDA newsletter at https://southlanddevelopment.org/news
###
About the Steans Family Foundation
The Steans Family Foundation was established in 1987 after it sponsored a group of seventh graders from the Lathrop Homes, a former public housing development on the northwest side of Chicago, to see them “to and through” college. This partnership with the “I Have a Dream” program provided students with academic enrichment opportunities and other support to help them realize their career aspirations. As a result of this experience, the Steans family deepened its awareness of the range of issues facing individuals and families who don’t earn living wages, and the communities in which they live. For more information, please visit https://steansfamilyfoundation.org/about/
About the Southland Development Authority
The Southland Development Authority, a not-for-profit economic development organization, is committed to driving equitable and sustainable economic growth in the South Suburbs of Chicago. Through innovative programs, strategic partnerships, and impactful direct investments, the SDA is building a vibrant, inclusive economy that drives wealth growth for individuals, businesses, and municipalities. Combined with the benefits of the South Suburban Land Bank and the Monarch Fund, the SDA serves as a model for regional development. For more information, visit http://southlanddevelopment.org
James Rodriguez
Bear Icebox Communications Inc.
email us here
Visit us on social media:
LinkedIn
Instagram
Facebook
YouTube
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
