- Office of the State Treasurer
- 300 West Jefferson St., 2nd Floor,
- Springfield, IL 67202
- Phone: (312) 814-8953 or (217) 782-2072
- Email: email@example.com
- Website: treasurer.il.gov/
Purpose of the Program
Local businesses serve as the cornerstone of our regional and state economies. They spur economic
growth, create jobs and contribute to the collective heartbeat of Illinois’ villages, small towns, and cities.
The Treasurer’s Office wants to strengthen businesses through its Employ Illinois loan program by providing opportunities for business to grow, expand, and ultimately create new jobs. The Treasurer’s Office also wants to help local businesses struggling during difficult economic times so communities
remain vibrant and jobs are protected.
Who is Eligible
The applicant must demonstrate that with an Employ Illinois loan, his/her business will benefit the community by providing more jobs or in some other quantifiable way; the applicant must provide a brief explanation as to why conventional loan financing is not adequate and why an Employ Illinois loan is necessary.
How to Apply:
- Contact the Treasurer’s Office for an overview of the program; 2. Apply for a loan at a participating financial institution and agree to use the Employ Illinois program; 3. Complete the Employ Illinois Business loan application and forward your application package, including all required documentation, to the Treasurer’s Office. your financial institution will often provide the application and forward it on your behalf; 4. Your financial institution must submit a completed application for deposit. Please contact the Treasurer’s Office before completing this application. The contact information is listed on the application; 5. The Treasurer’s Loan Committee will review your application for approval. The committee meets twice monthly.
If you have questions or need more information, e-mail firstname.lastname@example.org or call (312) 814-8953.
Availability of Funds
Amounts and Terms:
Borrowers can receive loans for up to $10 million. The amount of the loan is based on the
projected salaries/wages of the jobs created and/or another quantifiable benefit to the state economy. The below-market interest rate is available for two years with the possibility of a three-year extension. The Treasurer’s Office may require a site visit prior to approval.
How Funds are to be used
Employ Illinois loans are used to acquire land, purchase equipment, provide working capital, buy
inventory or make capital improvements that will lead to job creation.
Types of Assistance