$12 MILLION IN FINANCING AND RISING
The Chicago Transit Authority (CTA) Building Small Businesses (BSB) Program is an immersive financial capacity-building program tailored to ascend small, diverse businesses to the next level. BSB provides access to capital sourcing and bonding, procurement connections, and cultivates advanced organizational practices for small business owners.
The CTA BSB was launched in 2019 on the Red Purple Modernization Project to provide financial guidance and technical assistance to Disadvantaged Business Enterprises (DBEs).
BSB is delivered by Ascend HI, a strategic collaboration that includes ZANN, Inc. (ZANN), The Hispanic American Construction Industry Association (HACIA U), Sustainable Options for Urban Living (S.O.U.L.), ABF Consulting Group (ABF), and Cumberland Irving (CI).
BUILDING SMALL BUSINESSES (BSB) BY THE NUMBERS
250+
Participating small businesses
$12M
in loans awarded to small businesses
30+
Small Businesses financed
114
Small Businesses receiving technical assistance
BSB PROGRAM PROCESS
The BSB Program components are fluid, designed to meet participants wherever they are in the process. Using a comprehensive approach, the program provides a guided "Success Pathway Plan" (SPP) for small businesses to transform their ability to pursue procurement on major infrastructure projects.
STEP 1:
Attend Orientation
Participants will attend in-person orientation that includes an in-depth Fundamentals of Capital Sourcing presentation, and an overview of our Business Ascension
orientation.
STEP 2:
One-On-One Assessment
After completing the orientation, participants schedule and receive a confidential one-on-one assessment to identify the firm's readiness in financing, technical skills, performance/experience, and procurement acumen. The assessment will determine participants' needs and prescribe a pathway to program resources.
STEP 3:
Attend Business Ascension Workshops
During the BSB assessment phase, our team will determine which areas of primary and secondary Business Ascension workshops are recommended for the program participant to move to the next step of the program.
STEP 4:
Procurement Connections
For businesses ready for financing and/or bonding, having successfully built an infrastructure that can support growth through pursuit of additional projects. Once firms have competed their program, our team will develop a step-by-step process for procurement navigation.
BSB LAUNCH
In July 2022, Chicago Transit Authority Diversity Programs and Ascend HI kicked-off a successful launch of our Building Small Businesses (BSB) Program. Over 65 businesses joined this financial capacity-building program tailored to ascend small businesses to the next level.
BUILDING SMALL BUSINESSES PROGRAM FAQ
BSB ORIENTATIONS/BUSINESS ASCENSION WORKSHOPS CALENDAR
Register for the
BSB Orientation
OUR TEAM
The Ascend HI team culminates more than 75 years of successful broad-based entrepreneurial training by subject matter experts in their respective fields. The vision of the Ascend HI Team is to cultivate authentic Small Business Partner relationships with CTA, prime contractors, suppliers, and vendors in a collaborative effort to scale and grow small businesses. Each partner brings a wealth of intelligence presented in cohorts, workshops, and virtual webinars, in addition to one-on-one mentoring, coaching, and training to enhance small business growth. The Ascend HI team has deep roots and relationships in the greater Chicago region, where they are active servant leaders in the communities where they live, work, and play.
Darrick Brown
ABF
ABF has become the leading developer of DBE and SBE programs assisting small to large Construction Basedfirms and vendors with building financial capacity through education, consulting, and capital placement. We provide the knowledge and funds to accelerate growth and expand teams that enable contract participation.
Jackie Gomez
HACIA
Founded in 1979, the Hispanic American Construction Industry Association(HACIA) is a construction advocacy and membership organization working to ensure the equitable participation of diverse construction professionals in the industry. HACIA promotes the growth and fair inclusive practices of its members.
S.O.U.L. is a non-profit community organization dedicated to creating more sustainable living options for urban residents and businesses. S.O.U.L. specializes in workforce, entrepreneurial training, and technical assistance for construction, transportation, energy efficiency, and renewable energy contractors.
IN THE PRESS
Mass Transit
CTA Launches New Building Small Businesses (BSB) Program
"The Chicago Transit Authority (CTA) partnered with Ascend HUB Interactive (HI) to launch the CTA Building Small Businesses (BSB) Program, an innovative resource model and initiative designed to increase local small business participation in large-scale, government capital improvement ..."
Railway Age
Passenger Rail Briefs: Brightline, CTA, SMART
"Separately, CTA has partnered with Ascend HUB Interactive (HI) to announce the official launch date of the CTA Building Small Businesses (BSB) Program, an innovative resource model and initiative “designed to increase local small business participation in large-scale, government capital improvement projects...."
Fluor Corporation
"The Walsh-Fluor team constructing the $2.1 billion Red-Purple Line Modernization project for the Chicago Transit Authority received the DBE Innovator of the Year award at the Federation of Women Contractor’s event last night for its Building Small Business Program that secured more than $5.5 million in loans for small businesses since January 2020..."
