Moline-based farmers' market Mercado on Fifth has been approved by the state for a $500,000 Minority-Owned Business Capital and Infrastructure Program award.
"Mercado on Fifth is not just a market," the business states on its website. "It serves as a resource and catalyst for aspiring entrepreneurs. The weekly events bring Quad-Cities citizens together to celebrate culture and community in an inclusive way. Educational programming at Mercado provides enrichment hours for children, and free nonprofit booth space gets helpful information to adults."
The five-year-old nonprofit is one of 32 minority-owned businesses and incubators to receive the funding, approved by Illinois Gov. J.B. Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO). The funds are part of $11 million in state funding made available for such establishments.
“We felt we had a strong case for Mercado on Fifth, the City of Moline and the Floreciente neighborhood, that our vision could benefit the community greatly, and the State of Illinois agreed,” finance director Chris Ontiveros told QuadCity.com.
The grants are meant to provide minority-owned businesses with the resources to hire new employees, increase capacity and revenues and revitalize properties in underserved communities. One of those properties is West Gateway Partners LLC, a 6,300-square-foot building acquired last year at a cost of $500,000.
“Mercado on Fifth has been at the forefront of driving economic activity in the Quad-Cities region, having helped develop over 20 new minority-owned businesses since 2017,” said Mercado president Maria Ontiveros – daughter of Chris, and granddaughter of founder Bob Ontiveros.
“At a time when businesses are facing significant setbacks due to the ongoing COVID-19 pandemic, the Minority Capital Fund will help eliminate obstacles so minority-owned businesses can rebuild and continue supporting their communities,” Pritzker said in a recent press release. “These small, family-owned businesses are the backbone of Illinois, and capital grants will unlock funding to help them expand, create new jobs, and drive positive economic change for their communities.”
With a large Hispanic population, Chris Ontiveros argues that the Floreciente neighborhood has historically been underserved and its struggles have only been made greater by COVID-19.
“COVID just wrecked Mercado for the 2020 season, as it did many other small businesses,” he said. “Our micro-vendors are really being hurt by this. We’re hopeful that by phase four or five, the State of Illinois will allow us to open Mercado safely for the vendors and the community to get back into action.”
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