Areas Served: Bloomington and Normal, Illinois Economic Development Council of the Bloomington-Normal Area has developed a Community Development Corporation (CDC) which allocates low-interest loans, arranges venture and angel capital investment and develops unique financing mechanisms that will induce economically-viable projects in partnership with both the private and public sectors of Bloomington-Norma, Illinois. Several products are
Read MoreAreas Served: Kankakee County The Revolving Fund Program is a major component of the County’s economic development incentives package and is made available through the Department of Commerce and Economic Opportunity’s Community Development Assistance Program. The Fund was established to provide financial assistance, through low-interest loans or grants, to new or expanding businesses in Kankakee
Read MoreAreas Served: Williamson County The purpose of the USDA Intermediary Relending Program (IRP) is to alleviate poverty and increase economic activity and employment in Williamson County, Illinois. Under the IRP program, loans are provided to local organizations (intermediaries) for the establishment of revolving loan funds. The rural businesses targeted for IRP financing are: – Small
Read MoreAreas Served: City of Chicago In participation with the Rural Development Administration’s Intermediary Relending Program, the Illinois Finance Authority will finance business facilities and community development projects in eligible rural areas. Benefits: Finance up to 75% of project cost maximum of $250,000 Interest rate as follows, with a cap of 6%, whichever is less:
Read MoreAreas Served: City of Carbondale The downtown facade improvement loan program was established in August 1990 and has been amended to meet the changing needs of downtown property owners in Carbondale, Illinois. Structures eligible for the program must be located within the loan program area. The program is designed to fund up to 100% of
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