Areas Served: Boone or Winnebago Counties
The CSBG Program provides long-term, fixed rate financing to new or expanding businesses in exchange for job creation and employment of low-income individuals residing in Boone or Winnebago Counties – Provides up to 40% of project or available funds.
The remaining 50% can be comprised of other public or private funds.
– Loan terms cannot exceed 10 years.
– Interest rate is fixed at 3-5%.
– One full time job must be created for every $20,000 borrowed.
– Funds can be used to purchase equipment, inventory and working capital.
Contact InformationCity of Rockford
Address: 425 E. State Street
City: Rockford
State: Illinois
Website:
http://www.ci.rockford.il.us/community-economic-development/economic-development-division/cdbg-development-assistance-and-job-creation.aspx
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