Areas Served: Fulton, Hancock, Henderson, Knox, McDonough and Warren Counties.
The purpose of the Downtown Revitalization Loan Program is to increase economic development in West Central Illinois by helping small businesses improve their storefront visibility.
- Eligible Borrowers include corporations, partnerships, sole proprietorships and LLCs.
- Use of Funds can be for façade repair, roofing, windows, tuck pointing, brick replacements, awnings, HVAC or other energy efficient improvements.
- Loan amounts may not exceed $15,000, and must have cost estimates of repair or work to be done.
- Current financial statements and tax returns are also required.
- Terms of the loan are not to exceed ten (10) years.
- Interest rates are fixed at 5.5%.
- Collateral such as inventory, equipment, land, and buildings etc. are required.
Funds are targeted in the Illinois communities of Fulton, Hancock, Henderson, Knox, McDonough and Warren Counties.
Contact Information
Prairie Hills Resource Conservation and Development
Address: 321 W. University Drive
City: Macomb
State: Illinois
Website:
https://www.prairiehillsrcd.org/
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