Opportunity Illinois Non-profit Development Loan Program


  • Michael Smith, Program Administrator
  • Office of the State Treasurer
  • , James R. Thompson Center 100 West Randolph, Suite 15-600
  • Chicago, IL 60601
  • Phone: (312) 814-1244
  • Fax: (312) 814-3716
  • TDD: (312) 814-6592
  • Email: opportunityillinois@treasurer.state.il.us
  • Website: treasurer.il.gov

Purpose of the Program

Non-profit organizations use Opportunity Illinois loans to expand or improve their operations for the public good.

 

Who is Eligible

Program Eligibility:

Non-profit organizations must provide their non-profit certification letter from the Illinois Secretary of State or tax-exempt letter from the IRS.

Faith-based organizations must submit a Secular Acknowledgment Form, certifying that no state funds will be used for non-secular purposes.

Application Process

How to Apply:

Contact the Treasurer’s Office for an overview of the program; apply for a loan at a participating financial institution; complete the Opportunity Illinois program 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.

Your financial institution must submit a completed application for deposit.

The applicant must show that with the help of the Opportunity Illinois loan, their business or organization will provide a benefit to their community.

The applicant must provide a brief explanation why conventional loan financing is not adequate and why an Opportunity Illinois loan is necessary incentive.

A participating Illinois financial institution must approve the application.

The Treasurer’s Loan Committee will review your application for approval. The committee meets twice monthly.

Availability of Funds

Amounts and Terms:

Borrowers can receive up to $10 million.

The loan duration is two years with the possibility of a three-year extension.

A site visit may be required for approval.

How Funds are to be used

The Treasurer supports organizations that provide nurturing care for children of working parents; help individuals find jobs; prevent the early institutionalization of the elderly; care for the disabled; cure the ill; and many other initiatives that revitalize and strengthen the community.

Types of Assistance

Loans

Year Program was established

1997