Areas Served: Will County The CSBG Loan Program has funds available for small business start up or expansion in Will County, Illinois. The business owner must be working with a bank or other financial organization and be willing to employ low-income individuals. It provides long-term, fixed rate financing to new-or-expanding businesses in exchange for job
Read MoreAreas Served: Clay, Effingham, Fayette, Jasper, and Marion Counties, Illinois The Rural Business Initiative Loan Program can be used by businesses in Clay, Effingham, Fayette, Jasper, and Marion Counties in Illinois support both fixed asset and inventory/working capital financing needs. This flexible direct loan program can provide up to 75% of the project’s total cost
Read MoreAreas 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: 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
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