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
Read MoreAreas Served: Unincorporated areas of Imperial County The purpose of the County of Imperial’s Revolving Loan Fund (RLF) is to help create and/or retain jobs by providing businesses in the unincorporated areas with gap financing for start-up, ongoing operations and expansions. More than 51% of jobs retained and/or created through the RLF wil be for
Read MoreAreas Served: Bronx, New York, Queens Grameen America provides affordable microloans to financially empower low-income entrepreneurs and promote equitable economic growth. Microloans have a maximum initial size of $1,500, with a 15% annual interest rate (on a decline basis including all fees) and a maximum term of one year. Principal repayments and interest payments are
Read MoreAreas Served: Statewide Illinois With any of the PLP loans, the financial institution identifies potential opportunities for state participation. To participate, the lender must submit the Master Agreement below to DCEO. The five loan programs are: – The Standard Participation Loan Program (PLP) – designed to enable small businesses to obtain medium to long-term financing,
Read MoreAreas Served: City of Effingham This is a City of Effingham, Illinois program whereby low interest business loans are available based on the project cost and the number of jobs being created. Typical terms have been a 3% fixed interest rate for five years based on $15,000 loaned per job created. These funds can also
Read More