The U.S. Department of the Treasury announced that Illinois will receive up to $354.6 million to administer programs as part of the State Small Business Credit Initiative (SSBCI). The expanded program offering through SSBCI will enable Illinois to support small businesses across the state - helping them attract more capital investment and expand or launch business operations, while supporting key sectors. All of the new programs will launch in the coming months.
- Advantage Illinois (AI) Loan Guarantee Program (New Program)
Advantage Illinois' new Loan Guarantee Program will support business applicants who are having difficulty gaining access to capital by using funds to guarantee a percentage of loans provided by partner lenders.
- IN-VENT Venture Capital Program (VCP) (New Program)
Innovation Venture Fund (IN-VENT) will operate as a direct equity program with a focus on investing in businesses in key industries such as agriculture, ag tech, information technology, life sciences, manufacturing, quantum, and more.
- Climate Bank Finance Loan Participation Program (New Program)
This new program will be overseen by DCEO and administered by the Illinois Finance Authority (IFA), which will partner with local lenders to issue the loans. Climate Bank funds will be available to small businesses in the clean energy sector.
To receive program updates, please fill out the following form.
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