Advantage Illinois Participation Loan Program–Springfield


  • Mark Gauss, Manager, Business Finance Division
  • Illinois Department of Commerce and Economic Opportunity (DCEO)
  • 500 East Monroe Street
  • Springfield IL, 62701
  • 800-252-2923
  • (800) 785-6055
  • CEO.IllinoisAdvantage@illinois.gov
  • Websitge: www.AdvantageIllinois.biz

Purpose of the Program

DCEO seeks to encourage new bank lending to small

business, by purchasing portions of bank term loans, and RLOCs, applying below market interest rates to DCEO””s portion,

and subordinating its exposure that those of the lending entities.

Who is Eligible

For-profit businesses with 750 employees or less.

Application Process

Contact a participating bank listed at the DCEO-Advantage Illinois web site.

Availability of Funds

$2,000,000

How Funds are to be used

Funds cannot be used for debt refinancing of banks own existing loans, contingency funding or passive real estate investment. Borrower must occupy at least 51% for the business being financed.

Types of Assistance

Loans

Year Program was established

2011