LOOKING FOR FUNDING? MCEDC is partnering with the McHenry County College Small Business Development Center to introduce the new State of Illinois Advantage Illinois financing program.
McHenry County College Small Business Development Center with McHenry County Economic Development Corporation present:
Introduction to Advantage Illinois Program
Thursday, November 10, 2011
8:00 – 9:30 a. m.
MCC Shah Center
$78 Million Initiative to Support Small and Start-Up Businesses.
The number one challenge small businesses face in today's economy is gaining the funds they need to start or run their business. Governor Pat Quinn recently launched Advantage Illinois, the Department of Commerce and Economic Opportunity's enhanced portfolio of lending and venture capital programs, to help small businesses gain much-needed access to capital.
There has never been a better time to grow Illinois ideas or business! Attend this free seminar and learn about:
- Capital Access Program (CAP) assists businesses with various financing needs. It is designed to encourage financial institutions to make loans to small and new businesses that do not qualify under conventional lending policies.
- Participation Loan Program (PLP) supports businesses with projects that create or retain jobs and/or modernize their businesses to improve competitiveness. One component of the program is devoted to Minority/Women/Disabled/Veteran-Owned businesses (MWDV PLP). The state purchases and subordinates part of the loan to help mitigate lender risk.
- Collateral Support Program (CSP) establishes savings accounts or CDs that provide cash collateral support to lending institutions to enhance the equity and/or loan collateral levels of small business borrowers.
- Invest Illinois Venture Fund Program (IIVF) is a new venture capital program to support young, innovative companies in Illinois that show high growth potential, can demonstrate their place in the market and already have other investors.
For more information or to register, please contact the Illinois Small Business Development Center at (815) 455-6098.
The Shah Center is located at 4100 W. Shamrock Lane, McHenry, IL. 60050.
