Areas Served: Statewide Illinois
The Collateral Support Program (CSP) may be accessed via participating banks.
It is designed to supplement loan collateral of small businesses and entrepreneurs to enhance the equity and/or loan collateral levels of these potential borrowers.
The program supplies pledged collateral accounts to participating lending institutions.
This program enhances the collateral of individual loans, while providing a source of deposits to lending institutions.
Funding from this program can be used for many business purposes, including, but not limited to:
¢ start-up costs,
¢ working capital,
¢ business procurement,
¢ franchise fees,
¢ equipment,
¢ inventory,
¢ and the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes
Contact InformationIllinois Dept of Commerce & Economic Opportunity
Address: 500 East Monroe
City: Springfield
State: Illinois
Website:
http://www.ildceo.net/dceo/Bureaus/Advantage+Illinois/Collateral+Support+Program/
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