Business Financing Resources
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States. The SBA administers various programs for small businesses.
DCEO’s Office of Business Development administers a wide array of programs and services designed to help Illinois businesses thrive in todays economy. They offer expansion incentives, technology support services, access to capital, global marketing expertise, and job training and education for workers. Their trained staff is committed to forging partnerships with the private sector in an effort to build upon Illinois’ reputation as a world class center for business and industry. This includes a strong emphasis on programs designed to provide small businesses with the resources they need to succeed and grow their business opportunities.
The Economic Development Division of the Department of Planning and Development (DPD) manages programs designed to help businesses grow, expand and create jobs. Our programs include:
- Property Tax Incentives (Class 6b, Class 7, Class 8)
- BUILT in Cook Loan Programs
- Industrial Growth Zones
- Private Activity Bonds
Loan amounts between $300 to $250,000
Loans between $150,000 AND $4,000,000. Funds for commercial real estate, business acquisition, equipment, debt refinance, and permanent working capital.
Small Business Development Centers (SBDCs) provide a wide array of technical assistance to small businesses and aspiring entrepreneurs supporting business performance and sustainability and enhancing the creation of new businesses entities. These small businesses in turn foster local and regional economic development through job creation and retention as a result of the extensive one-on-one long-term counseling, training and specialized services they receive from the SBDCs. The SBDCs are made up of a unique collaboration of SBA, state and local governments, and private sector funding resources.