Areas Served: McHenry County
The McHenry County Loan Fund (MCLF) exists for the purpose of encouraging economic growth and increasing the size of it’s commercial and industrial base.
The MCLF is a government funded program that helps build businesses in McHenry County.
The MCLF is administered by the McHenry County Board and marketed by the McHenry County Economic Development Corporation.
The MCLF provides funds in combination with other sources of financing needed to get a new business off the ground or help growing company’s meet expansion needs.
MCLF fund are used to achieve lower overall interest costs.
It can be an affordable source of financing that can be used with or in place of a traditional commercial or SBA loan.
Advantages include: – Long term maturity – Quick response time – Minimal upfront costs – Lower costs than SBA loans The maximum loan amount shall be $200,000 or 45% of the total project costs, whichever is greater.
Contact InformationMcHenry County Economic Development Corporation
Address: 5435 Bull Valley Road, Suite 324
City: McHenry
State: Illinois
Website:
http://www.mchenrycountyedc.com/business-information/incentives-programs/loan-fund.html
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