Rural Micro-Business Participation Loan Program

The Rural Micro-business Participation Loan Program is a variation of the Participation Loan Program designed to provide subordinated loans of up to 50% of a project (maximum $25,000) to Illinois Rural Micro-businesses through participating lending institutions. A rural micro-business is a for profit business that: (i) employs 5 or fewer full-time employees, including the owner if the owner is an employee, and (ii) is based on the production, processing, or marketing of agricultural products, forest products, cottage and craft products, or tourism. The borrower is required to provide equity of at least 10% of the project up to $1,000 (10% of a $10,000 project). Funds cannot be used for debt refinancing or contingency funding.

Category: IL State Incentive, Illinois Loan Programs

More IL State Incentive, Illinois Loan Programs

The BDPIP program is designed to provide grants to units of local government for public improvements on behalf of businesses undertaking a major expansion or relocation project that will result in substantial private investment and the creation and/or retention of a large amount of Illinois... Learn More
The CDAP- ED program is a federally funded program that is designed to provide grants to units of local government for economic development activities related to business retention and or expansion opportunities. The program is targeted to assist low-to-moderate income people by creating job opportunities... Learn More
The CSBG Loan Program is administered jointly by the Illinois Department of Commerce and Economic Opportunity (DCEO), statewide Community Action Agencies (CAAs) and Illinois Ventures for Community Action (IVCA). The Program provides long-term, fixed-rate financing to new or expanding small businesses in exchange for job... Learn More
The EDGE program is designed to offer a special tax incentive to encourage companies to locate or expand operations in Illinois when there is active consideration of a competing location in another State. The program can provide tax credits to qualifying companies, equal to the... Learn More
The Employer Training Investment Program (ETIP) helps keep Illinois workers’ skills in pace with new technologies and business practices, which, in turn, helps businesses increase productivity, reduce costs, improve quality and boost competitiveness. ETIP grants can reimburse new or expanding companies for up to 50... Learn More
The EZ/PLP is a variation of the conventional PLP Program, in that DCEO subordinates the loans through participating lending institutions, but the EZ/PLP may be able to provide small businesses located in an enterprise zone a more attractive loan rate than a conventional PLP. Learn More
The Illinois Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state. This is accomplished through state and local tax incentives, regulatory relief, and improved governmental services. LEARN MORE Learn More
The HIB program is designed to encourage large-scale economic development activities, by providing tax incentives (similar to those offered within an enterprise zone) to companies that propose to make a substantial capital investment in operations and will create or retain above average number of jobs... Learn More
The Illinois Capital Access Program (CAP) is designed to encourage financial institutions to make loans to small and new businesses that do not qualify under conventional lending policies. CAP is a form of loan portfolio insurance, which provides additional reserve coverage to the lender on... Learn More
The AgriFIRST program is designed to provide grants to persons and agribusinesses in Illinois for the purpose of developing projects that enhance the value of agricultural products or expand agribusiness in Illinois Learn More
IDOT has several programs that provide state assistance in improving highway and rail access improvements to new or expanding industrial, distribution or tourism developments. The focus of these programs is the retention and creation of Illinois jobs. Funding may be available for transportation improvement projects... Learn More
The Illinois State Treasurers Office offers a number of programs that are designed to assist the Illinois business community by providing access to capital and financing at affordable rates in order to promote economic development activities that create and retain jobs within the state. To... Learn More
The LBDP program is designed to provide grants to businesses undertaking a major expansion or relocation project that will result in substantial private investment and the creation and/or retention of a large number of Illinois jobs. Funds available through the program may be used by... Learn More
The MWD/PLP program is a variation of the conventional PLP, in that DCEO subordinates the loans through participating lending institutions, but the MWD/PLP program can provide Illinois small businesses that are 51 percent owned and managed by persons who are minorities, women, or disabled, with... Learn More
The NMTC Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities. Learn more at  Learn More
The PLP program is designed to work through banks and other conventional lending institutions, to provide subordinated financial assistance to Illinois small businesses that employ Illinois workers. A business with 500 or fewer employees may apply for a PLP loan of not less than $10,000... Learn More
The RLOC program can provide qualifying businesses with a subordinated line of credit through banks and other convention lending institutions at affordable interest rates. Learn More
Illinois law allows units of local governments the ability to designate areas within their jurisdiction as TIF districts. These specially designated districts are used by local governments as a way to spur economic growth by dedicating the sales tax revenues and additional property tax revenues... Learn More
The Illinois Finance Authority (IFA) is a self-financed, state authority principally engaged in issuing taxable and tax-exempt bonds, making loans, and investing capital for businesses, non-profit corporations, agriculture and local government units statewide. IFA finances about $3 billion each year, helping generate economic growth and... Learn More